COMPETENT PERSON APPOINTED BY REGULATORS OPPOSES PILATUS BANK US DISCOVERY PETITION

 

Attorneys for Lawrence Connell, the individual appointed to be the Competent Person by the  Malta  Financial Services Authority (MFSA)  to administer and supervise Pilatus Bank PLC has filed an extensive 27-page Opposition memorandum of law, in response to Pilarus' Petition, seeking Discovery from Connell.

Connell's counsel asserts that the Court should deny the relief sought by the Applicant bank, and has made a highly persuasive case, arguing:

(1)  The Application should be denied for failure to meet the statutory requirements of 28 USC §1782.

(2)  The Application should be denied, because the unfiled and unspecified "Damages" sought is speculative and not within reasonable contemplation.

(3) The Application should be denied because the Discovery sought is privileged.

(4) The Court should exercise its discretion to deny the application.

(5) The Petition should be denied because it seeks documents possessed by likely parties to the comtemplated and pending foreign jurisdictions.

(6) The Discovery should be denied because foreign governments receptive to the assistance, which contravenes Principles of Comity, and may harm reciprocity.

(7) The Application should be denied because it seeks to circumvent Discovery restrictions.

(8) The Application should be denied because it is unduly burdensome.   

A fair reading of the document indicates that several of the above grounds, alone, appear to be sufficient to support a dismissal of the action,  We still don't know whether the Court considers the petition to be dismissed  by the last order of court, for failure to timely serve the respondent  in December.