NDNY: No Interpleader Jurisdiction Where Investment Manager Previously Distributed Disputed Funds
Posted on August 8, 2014
I recently represented USAA Investment Management Company in the matter of USAA Investment Management Company v. John Connell et al., 2014 WL 2176283 (N.D.N.Y. 2014), an interesting case concerning interpleader jurisdiction. In general, interpleader jurisdiction permits a party in possession of property to which multiple other parties have laid claim to initiate a suit in federal court whereby the Court and the claimants will adjudicate the ownership claims. Interpleader offers protection for the party in possession (referred to as the “stakeholder”), whoRead More→