Jpmorgan Chase Bank v. Traffic Stream (Bvi) Infrastructure Ltd.

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.