Case: Capital Currency Exchange v. National Westminster Bank and Barclays Bank 155 F.3d 603
FACTS: Capital Currency Exchange (CCE) is a financial organization that engaged in retail currency exchange and transferring money between the United States and England. CCE and its affiliates maintained a banking relationship with Barclays UK. In 1992 Worldcash wanted to acquire a New York State money transmission license. A 5500,000 needed to be posted for the New York State banking authorities. On behalf of Worldcash, CCE prepared a line of credit as security for the bond with Barclays UK in 1991. Barclays UK and CCE severed ties in May of 1995 after Barclays UK informed CCE it needed to use another banker for future business. The facts of the split are disputed by both parties. National Westminster Bank also denied services to CCE which led CCE to believe that Barclays UK was conspiring against them. CCE brought suit and claims the conspiracy violates antitrust laws under the Sherman Act.
Barclays UK and National Westminster argued that the case should be dismissed under the Forum Non Conveniens Doctrine.
ISSUE: Is the another adequate forum to resolve the dispute under the Forum Non Conveniens Doctrine.
LAW: The Forum Non Conveniens Doctrine states that an alternative forum is adequate if: (I) the defendants are subject to the service of process there: and (2) the forum permits litigation of the subject matter of the dispute.