Court of Appeals for the Second Circuit September 28, 1998, No. 97-7867 (Alfadda v. Fenn)

BACKGROUND

MCLAUGHLIN, Circuit J.

Saudi European Investment Corporation (“SEIC”) is incorporated in the Netherlands Antilles to invest Saudi Arabian capital in ‘Western markets.” SEIC’s stock is not publicly traded. Until 1989, its principal asset was Saudi European Bank (“SE Bank”), a French-licensed bank, headquartered in Paris.