Anwar et al v. Fairfield Greenwich Limited et al

Filing 694

ENDORSED LETTER addressed to Magistrate Judge Theodore H. Katz from Richard E. Brodsky dated 7/25/2011 re: Counsel for the Standard Chartered Plaintiffs' Steering Committee submit that in the light of the apparently imminence of a sale or abandonment, which could lead to the denuding of the entity that is the sole defendant in one or more of the Standard Chartered Cases, and was the entity most directly connected to our clients' injuries, there is good cause to expedite the process by which the Request for Production be responded to and, if necessary, the objections to the Request be addressed by the Court. It is for this reason that counsel requests not only Your Honor's prompt consideration of this letter and Your Honor's approval of the request. ENDORSEMENT: The request for expedited discovery is denied, as it has not been adequately justified. As agreed to by the Standard Chartered defendants' counsel, the Court expects them to keep Plaintiff and the Court apprised of any charges in SBCI's corporate statutes or ownership, or any other transactions that would have an impact on Plaintiffs' ability to recover a judgment from the Standard Chartered defendants. (Signed by Magistrate Judge Theodore H. Katz on 8/3/2011) (tro) (Main Document 694 replaced on 8/4/2011) (tro).

m:MyFax - Richard E. Brodsky To:Hon. Theodore H. Katz (12128057932)

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RICHARD E. BRODSKY

ATfORNEY AT LAW

66 W. FLAGLER STREET, 9TH FLOOR_ MIAMI, FLORIDA 33130. PHONE: [phone]. RBRODSKY

July 25, 2011

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By fax to (212) 805·7932
Honorable Theodore H. Katz
United States Magistrate Judge
Daniel Patrick Moynihan U.S. Courthouse
500 Pearl Street
New York, New York 10007-1312
Re:

Anwar, et al. v. Fairfield Greenwich Limited) etal., 09-cv-118 (VM)(THK):
Standard Chartered Cases

Dear Judge Katz:
I write on behalf of the Standard Chartered Plaintiffs' Steering Committee.
On July 14, 2011, we served our Second Request for Production of
Documents to the Standard Chartered Defendants) requesting documents
concerning Standard Chartered's plans to sell or abandon Standard Chartered Bank
International (Americas) Ltd., which was known until its acquisition by Standard
Chartered in 2008 as American Express Bank International. l By letter to counsel
dated July 14. 2011, we requested that the Standard Chartered Defendants agree to
a shorter return time of fourteen days. ]t was not until July 22, 2011, eight days later,
that Sullivan & Cromwell answered and rejected the shorter time frame.
We attach copies ofthe Request for Production, the letter to counsel and a
letter to clients of Standard Chartered Bank lnternational (Americas) by Standard
Chartered management discussing the sale or abandonment.
Since we anticipate that the Standard Chartered Defendants will object to the
request and assume that they know their position now, we respectfully submit that
it would expedite matters and permit a more prompt judicial review of their
expected objection if they were required to provide a response to the Standard
Chartered Plaintiffs by Thursday, July 28,2011, or as soon thereafter as Your Honor
deems appropriate.
We respectfully submit that in light of the apparently imminence of a sale or
abandonment, which could lead to the denuding of the entity that is the sole
1

This is an Edge Act Bank located in Miami, Florida, through which American

W'WW.THEBRODSKYLAWFIRM,COM

m:MyFax - Richard E. Brodsky To:Hon. Theodore H. Katz (12128057932)

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Page 2 of2
July 2S, 2011
defendant in one or more of the Standard Chartered Cases, and was the entity most
directly connected to our clients' injuries, there is good cause to expedite the
process by which the Request for Production be responded to and, if necessary, the
objections to the Request be addressed by the Court. It is for this reason that we
respectfully request not only Your Honor's prompt consideration of this letter and
Your Honor's approval of the request.
Thank you for your attention to this matter.

Enclosures
cc:

Other Members of the Plaintiffs' Steering Committee
Sharon Nelles, Esq., counsel for Standard Chartered Defendants