China’s Banks Test U.S. Legal System
As China’s big banks expand in the U.S., they are testing how far U.S. judges can go in demanding account records located in China, The Wall Street Journal reports.
“In a closely watched case, Kering SA’s Gucci and its other luxury brands allege that some of their most troublesome counterfeiters have accounts with Bank of China Ltd. and have issued subpoenas for information about their transactions,” report Nicole Hong and Lingling Wei.
The Bank of China has responded that turning over account records would violate Chinese law.
