August 21, 2015
Litigation Department successfully represents Jordan Dubai Islamic Bank in significant case.
Willkie successfully represented Jordan Dubai Islamic Bank (JDIB) in winning the removal of restraints imposed against the Jordanian financial institution.
In 2013, the Southern District of New York issued a sweeping ex parte restraining order in Motorola Credit Corporation v. Uzan, 02-Civ-0666, imposing a blanket freeze on the global assets of Jordan Dubai Islamic Bank, a non-party to the action. Motorola sought to collect on a $3.13 billion judgment entered against the defendants in the action—members of the Turkey-based Uzan family—and had, on an ex parte basis, convinced the court in sealed submissions that JDIB was purportedly an “Uzan proxy,” allegedly justifying the restraint on its assets. Without notice to JDIB, Motorola subsequently began freezing JDIB’s assets around the world, posing an existential threat to JDIB.
Willkie assisted JDIB in intervening to lift the restraint. After almost a year of hotly contested litigation, Willkie successfully persuaded the court to reverse course and remove the blanket asset freeze. Motorola appealed the decision to the United States Court of Appeals for the Second Circuit. With argument set for August 27, 2015, Motorola agreed to dismiss the appeal with prejudice, stating in a letter that “Motorola no longer considers JDIB to be an Uzan proxy” and “sees no reason for any continued restraint.”
The Willkie team representing JDIB included partners Michael Schachter, Martin Weinstein and Robert Meyer and associates Benjamin Shapiro, Pia Williams, and Shaimaa Hussein.
