A federal judge has halted efforts by three bondholders looking to recover almost $90 billion on defaulted loans issued by the People's Republic of China's predecessor government in 1913. In Morris v. People's Republic of China , Southern District of New York Judge Richard J. Holwell concluded that the court lacked subject matter jurisdiction to hear the plaintiffs' claims because China is entitled to sovereign immunity under the Foreign Sovereign Immunities Act.
March 30, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A federal judge has halted efforts by three bondholders looking to recover almost $90 billion on defaulted loans issued by the People’s Republic of China’s predecessor government in 1913.
In Morris v. People’s Republic of China, Southern District of New York Judge Richard J. Holwell concluded that the court lacked subject matter jurisdiction to hear the plaintiffs’ claims because China is entitled to sovereign immunity under the Foreign Sovereign Immunities Act.
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