DOCKET NO.: 532
DECIDED BY: Hughes Court (1932-1937)
ARGUED: Mar 04, 1937
DECIDED: May 03, 1937
Facts of the case
In 1933, the United States established formal diplomatic relations with the Soviet Union. This case involved a Russian metal works company which had deposited money in an American bank prior to the Russian Revolution of 1917. The Soviet Union nationalized the company and attempted to reclaim its assets with the help of the United States. The bank refused to cooperate, citing protection of a New York law.
Did the diplomatic agreements between the two countries compel the bank to release the assets?