The Cautionary Tale of Arcapita: Foreign Banks Are Subject to U.S. Jurisdiction if They Use a U.S. Bank Account for Foreign Transactions

Arcapita Bank B.S.C.(c) v. Bahrain Islamic Bank (In re Arcapita Bank B.S.C.(c)), 575 B.R. 229 (Bankr. S.D.N.Y. 2017); Official Comm. of Unsecured Creditors of Arcapita Bank B.S.C.(c) v. Bahrain Islamic Bank (In re Arcapita Bank B.S.C.(c)), 549 B.R. 56 (S.D.N.Y. 2016) (“Arcapita I”); Bascuñán v. Elsaca, 874 F.3d 806 (2d Cir. 2017).