News

The U.S. Supreme Court is set to rule on the merits of a civil complaint that could determine when banks in foreign jurisdictions can be held liable under an American anti-corruption law. Last month, the court heard oral arguments for and against RJR Nabisco's petition to dismiss a private civil action filed by 26 European nations alleging that the firm and its affiliates cost them millions of euros in lost tax revenues and law enforcement expenses by laundering profits from the sales of illegal narcotics smuggled into their countries from Colombia, Afghanistan and Russia. A ruling in favor of Europe...