Publication
Second Circuit defers to executive will on application of sovereign immunity
The Second Circuit recently held that federal common law protections of sovereign immunity did not preclude prosecution of a state-owned foreign corporation.
In pari delicto is a centuries-old doctrine that prevents courts from intervening to resolve disputes between two wrongdoers. Rooted in principles of equity, in pari delicto acts as an affirmative defense to deny relief to an injured party where both parties are equally at fault. As explained by the Court of Appeals, the doctrine serves two important public policy purposes: (1) deterring illegality by denying judicial relief to an admitted wrongdoer and (2) deterring courts from involving themselves in cases between two wrongdoers. Kirschner v. KPMG LLP, 15 N.Y.3d 446, 464 (2010).
New York courts are often tasked with determining the application of the in pari delicto defense to acts committed by a corporation's agent. Corporations act through their officers and agents and, when those agents commit bad acts or fraud, those bad acts can be imputed to the corporation, regardless of whether those acts are authorized or known by the corporation. See id. at 465-66. The adverse interest exception to this fundamental agency principle prevents an agent's acts from being imputed to the corporation and, thus, bars the application of the in pari delicto defense.
Publication
The Second Circuit recently held that federal common law protections of sovereign immunity did not preclude prosecution of a state-owned foreign corporation.
Publication
Facing the fast-growing development of AI across the globe, particularly Generative AI (GenAI), the G7 competition authorities and policymakers (Canada, France, Germany, Japan, Italy, the UK and the US) and the European Commission met in Italy on 3-4 October 2024 to discuss the main competition challenges raised by these new technologies in digital markets.
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023