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39

  • 1)

    A foreign branch of a U.S. bank,

  • 2)

    A foreign subsidiary of a US. Bank,

  • 3)

    A foreign bank (including a foreign trust company),

  • 4)

    A US branch of a foreign bank, and

  • 5)

    A US subsidiary of a foreign bank.

With respect to branch and subsidiary entities, the element of control by the parent entity

is of critical importance. This is always looked at as a question of fact. If as is the case in

some of the offshore jurisdictions, such as the Isle of Mann, that the bank is simply a

“name plate” or plaque only with no active business presence physically, then the court

will regard the bank as controlled only by the parent entity and the offshore presence as

only a booking center.

Further any, parent, branch, or subsidiary bank that has sufficient contact with the United

States is amenable to service of process their in personam jurisdiction.116 This approach

was taken in the Bank of Nova Scotia case United Sates v Davis( 2nd Cir 1985) as

discussed above. Another case which shows the sheer determination the United States

courts have in enforcing the IRS summons is revealed in the case of United States v

Toyota Motor Corp. ( D.C. Cal. 1983). The definition of a tax haven according to the

OECD117 includes states that have inter alia, the lack of transparency and strict bank

secrecy requirements.

116

Id at page Id at page 526

117

Supra note 10

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