Supreme Court of the United States
Jpmorgan Chase Bank v. Traffic Stream (Bvi) Infrastructure Ltd.
June 10, 2002536 U.S. 88
Summary
The Supreme Court held that a corporation organized under the laws of the British Virgin Islands is a “citizen or subject of a foreign state” for purposes of 28 U.S.C. §1332(a)(2), because the United Kingdom, as the sovereign authority over the BVI, qualifies as a foreign state. Accordingly, the Court reversed the Second Circuit and affirmed the district court’s exercise of alienage jurisdiction over Traffic Stream (BVI) Infrastructure Ltd.
Holding
- Whether a corporation organized under the laws of an overseas territory is a citizen or subject of a foreign state for purposes of 28 U.S.C. §1332(a)(2).. Yes; a BVI corporation is a citizen or subject of a foreign state because the United Kingdom, which exercises ultimate authority over the BVI, is that foreign state.
- Whether the United Kingdom qualifies as a foreign state such that BVI corporations are its citizens or subjects under §1332(a)(2).. Yes; the United Kingdom is a foreign state for the purposes of the statute, and its authority over the BVI renders BVI corporations its citizens or subjects.
Docket 01-651
Cited authorities
- Treaty of Paris
- Treaty of Peace
- 28 U.S.C. § 1332
- 28 U.S.C. § 1332
- 28 U.S.C. § 1332
- 8 Stat. 82
- 1989 Duke L.J. 1421
- 1 Stat. 78
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