Celsa Hilao v. Estate of Ferdinand E. Marcos, and Swiss Bank Corporation and Credit Suisse

This appeal arises out of proceedings to enforce a judgment of nearly $2 billion against the Estate of Ferdinand E. Marcos in favor of nearly 10,000 class plaintiffs (referred to hereinafter collectively as “Hilao”) who suffered (or are family members of those who suffered) torture, “disappearance”, and summary execution during Marcos’ tenure as president of the Philippines. Swiss Bank Corporation and Credit Suisse (the Banks) appeal jointly from an order of the district court directing them to deposit into the court registry all assets in deposit accounts at the Banks that are claimed by the Estate of Ferdinand Marcos. We have jurisdiction under 28 U.S.C. § 1292 (a)(1) and vacate the order.

FACTUAL BACKGROUND & PROCEDURAL HISTORY

Hilao registered its Hawaii judgment against the Estate in the Central District of California in May 1995 pursuant to 28 U.S.C. § 1963 . That same month, writs of execution and notices of levy, together with notices of deposition in aid of execution, were served on the Los Angeles wholesale branch of Credit Suisse and on the Los Angeles representative office of Swiss Bank Corporation. The writs and notices purported to levy upon deposit accounts…