Bankers Trust Co. v. Fidata Trust Co. New York

SCHULTZ, Justice.

The principal issue in this case is whether the nonresident defendant had sufficient minimum contacts with Iowa to subject it to the jurisdiction of the courts of this state. An additional issue is whether defendant consented to jurisdiction in Iowa. The trial court overruled defendant’s motion to dismiss for lack of personal jurisdiction. We reverse and remand.

In 1983 General Growth Limited Partnership (General) decided to offer its shareholders subscription rights to additional shares. It hired Bankers Trust Company (Bankers) to act as its agent for the rights offering.…