Funds flowing through New York bank accounts from a British Virgin Islands corporation to its alter ego, a Brazilian-based Panamanian company can be attached in New York to satisfy a judgment against the Virgin Island debtor, a New York state appellate court ruled yesterday.
The Appellate Division, First Department, in Georgia-Pacific Corp. v. Multimark’s International Ltd., 2750, unanimously affirmed Justice Charles Ramos’s grant of Georgia-Pacific Corp’s motion to confirm ex parte orders of attachment against an account held by the Virgin Island corporation, Multimark’s International Ltd., at Bank Audi in New York, and against another account at the same bank maintained by Republican Ltd. of Panama.
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