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A recent opinion by Southern District Judge Jed S. Rakoff blocking New York regulators from disposing of local assets of an international bank has sparked protests from state banking regulators nationwide. The opinion reflected a tension between international efforts to consolidate bankruptcy proceedings for multinationals in one court against state regulators' wishes to administer domestic assets on behalf of in-state creditors.
August 12, 2004 at 12:00 AM
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The original version of this story was published on Law.Com
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