Koch Industries Inc
controlled by billionaire brothers Charles and David Koch extraterritoriality, “subsequent foreign transferees” because of international comity, the need to let other countries enforce their own laws.
foreign transferees
Bernstein cited a 2014 ruling by U.S. District Judge Jed Rakoff in Manhattan that Picard could not recoup “purely foreign subsequent transfers” because of a presumption that U.S. laws, including in bankruptcy, apply only within the United States.
Picard sued Koch to recoup $21.53 million allegedly sent by Madoff to Fairfield Sentry, a British Virgin Islands-based feeder fund, and then to a Koch entity in Great Britain.
Bernstein dismissed claims against Koch on comity grounds.
Bernstein dismissed claims against Koch on comity grounds.
The case is Picard v. Bureau of Labor Insurance, U.S. Bankruptcy Court, Southern District of New York, No. 11-ap-02732. The main Madoff bankruptcy case is Securities Investor Protection Corp v. Bernard L. Madoff Investment Securities LLC in the same court, No. 08-01789.
extraterritoriality
or ex·ter·ri·to·ri·al·i·ty
[ek-struh-ter-i-tawr-ee-al-i-tee or eks-ter-i-tawr-ee-al-i-tee; -tohr-]
ExamplesWord Origin
See more synonyms on Thesaurus.com
noun
immunity from the jurisdiction of a nation, granted to foreign diplomatic officials, foreign warships, etc.
the applicability or exercise of a sovereign's laws outside its territory.
Extraterritoriality Koch Industries Inc
the privilege granted to some aliens, esp diplomats, of being exempt from the jurisdiction of the state in which they reside the right or privilege of a state to exercise authority in certain circumstances beyond the limits of its territory.
The assessed value Koch in 1961 was $21 million today over $100 billion.
Koch could easily afford to pay back the unethical gotten money from American.
https://www.kochind.com/philosophy/
Charles Koch in joys overthrowing conventional wisdom. Principles can that cause discomfort, intentionally disrupting harmony in a peace love community. https://www.kochind.com/responsibility/ethics/ Like Teachers.