High Court Questions Why Russian Can’t Claim RICO To Enforce $92M Award

Mealey's (April 25, 2023, 2:24 PM EDT) -- WASHINGTON, D.C. — The U.S. Supreme Court on April 25 questioned a Russian residing in California and a Monaco bank during oral arguments why a foreign creditor would lack standing to bring a Racketeer Influenced and Corrupt Organizations Act (RICO) claim against them for nonpayment of a $92 million arbitral award, with the justices asking why a RICO injury should only be considered felt at the victim’s domicile, rather than the location of the alleged wrongdoing....