Society Milion Athena, Inc., Respondents v. National Bank of Greece, Appellants, Impleaded With Others

Summary

The New York Court of Appeals affirmed the lower courts, holding that the complaint sufficiently stated a fraud claim for each plaintiff individually, that no representative action may be maintained, that the individual defendants are not proper parties to a creditor’s bill, that the motion to strike derivative‑only portions should have been granted, and that the plaintiffs’ request for a receiver of the foreign bank was improper.