BNP Paribas SABNP
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BNP Paribas faces an adverse trial court ruling in Sudan litigation and must appeal, creating legal uncertainty and potential liability.
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BNP Paribas SABNP Paribas has issued a statement regarding the Sudan litigation, announcing that it will appeal the trial court's decision, which will be governed by Swiss law. The bank asserts that the trial court misconstrued Swiss law, made numerous legal errors, and disregarded evidence showing the transactions were authorized under Swiss and European law. BNP Paribas's arguments are supported by the Swiss and U.S. governments, academics, and industry groups. The bank plans to file its reply brief and present its case before the second circuit.
BNP Paribas SABNP Paribas faces an adverse trial court ruling in Sudan litigation and must appeal, creating legal uncertainty and potential liability.