Credit Suisse v. United States District Court for the Central District of California

Credit Suisse and Swiss Bank Corporation (the “Banks”) petition this court for a writ of mandamus, prohibition or other appropriate extraordinary relief from the district court’s denial of the Banks’ motion to dismiss the action Rosales et al. v. Credit Suisse and *1344 Swiss Bank Coup., No. CV 96-6419 (C.D.Cal.) (Real, J.) (“Rosales action”). We have jurisdiction pursuant to 28 U.S.C. § 1651 (a). Because the relief sought in the Rosales action would violate the act of state doctrine, we grant the petition.

I.

A. The Multi-District Litigation

In Multi-District Litigation (“MDL”) Case No. 840 (D.Hawaii), 9,539 victims of human rights violations won a $1,964,005,859.90 judgment against the Estate of Ferdinand E. Marcos (“Estate” or “Marcos Estate”). The judgment included an injunction restraining the Estate and its agents, representatives and aiders and abettors from transferring or otherwise conveying any funds or assets held on behalf of or for the benefit of the Estate pending satisfaction of the judgment.

B. Postr-Judgment Enforcement Proceeding-The Hilao Action

In an attempt to collect on the judgment, the plaintiffs in the MDL case registered their judgment in the Central…