Mashreqbank PSC v. Ahmed Hamad Al Gosaibi & Bros.

OPINION OF THE COURT

Catterson, J.

In these dual actions arising from an alleged Ponzi scheme of global proportions, precedent mandates reversal of the motion court’s sua sponte dismissal of the main action on a forum non conveniens ground. Moreover, we find that dismissal of the related third-party action, on notice of motion, on a forum non *4conveniens ground, was an improvident exercise of the court’s discretion. New York has a compelling interest in adjudicating controversies that implicate its preeminent position in the international banking system, and in any event, the third-party…