Sentences with phrase «injunction over defendants»
In VTB Capital PLC v. Universal Telecom Management, the Cayman Islands Court of Appeal considered whether it had the power to grant a Mareva injunction over defendants against whom no substantive cause of action is asserted («non-cause-of-action-defendants» or «NCADs») when the cause of action defendant is beyond the jurisdiction of the court.
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Granting the CFTC's request for a preliminary injunction against the defendants who allegedly engaged in deception and fraud involving virtual currency spot markets, Judge Weinstein noted that» [u] ntil Congress clarifies the matter,» the CFTC has «concurrent authority» along with other state and federal administrative agencies and civil and criminal courts over transactions in virtual currency.
In March, the judge initially presiding over the case, Jack B. Weinstein, granted the CFTC's preliminary injunction against the defendants.
On March 6, 2018, Judge Jack B. Weinstein of the U.S. District Court for the Eastern District of New York ruled that virtual currencies are commodities under the Commodity Exchange Act (CEA) and therefore subject to the Commodity Futures Trading Commission's (CFTC) anti-fraud and anti-manipulation enforcement authority.1 Granting the CFTC's request for a preliminary injunction against the defendants who allegedly engaged in deception and fraud involving virtual currency spot markets, Judge Weinstein noted that «[u] ntil Congress clarifies the matter,» the CFTC has «concurrent authority» along with other state and federal administrative agencies and civil and criminal courts over transactions in virtual currency.2
The B.C.C.A. (in a decision written by Justice Groberman) dismissed the appeal, holding that territorial competence over the action between the plaintiffs and defendants was sufficient to establish territorial competence over the injunction application.
Her Honour, in adopting the modern English law approach, found that a court's unlimited in personam jurisdiction over a defendant justifying the issuance of a worldwide Mareva injunction did not depend on whether a defendant had assets in the jurisdiction at all.