Banoka S.À.R.L. v. Elliott Mgmt. Corp.

CourtCourt of Appeals for the Second Circuit
DecidedJuly 31, 2025
Docket24-1352
StatusPublished

This text of Banoka S.À.R.L. v. Elliott Mgmt. Corp. (Banoka S.À.R.L. v. Elliott Mgmt. Corp.) is published on Counsel Stack Legal Research, covering Court of Appeals for the Second Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Banoka S.À.R.L. v. Elliott Mgmt. Corp., (2d Cir. 2025).

Opinion

24-1352 Banoka S.à.r.l. v. Elliott Mgmt. Corp.

UNITED STATES COURT OF APPEALS FOR THE SECOND CIRCUIT

August Term, 2024

(Argued: March 27, 2025 Decided: July 31, 2025)

Docket No. 24-1352

BANOKA S.À.R.L., ATYS S.A., RENATO PICCIOTTO, JACQUES CHAMPY, JEAN BISSONNET,

Petitioners-Appellants,

— v. —

ELLIOTT MANAGEMENT CORP., ELLIOTT INVESTMENT MANAGEMENT L.P., ELLIOTT ASSOCIATES L.P., ELLIOTT INTERNATIONAL L.P.,

Respondents-Appellees,

ALVAREZ & MARSAL, INC., ALVAREZ & MARSAL TRANSACTION ADVISORY GROUP, LLC, ALVAREZ & MARSAL HOLDINGS, LLC,

Respondents.*

* The Clerk of Court is respectfully directed to amend the official caption in this case to conform with the caption above.

1 B e f o r e:

LYNCH, MENASHI, and LEE, Circuit Judges.

__________________

Appellants challenge the denial of their petition for third-party discovery under 28 U.S.C. § 1782, arguing that the district court improperly analyzed the third and fourth discretionary Intel factors when it rejected their petition. See Intel Corp. v. Advanced Micro Devices, Inc., 542 U.S. 241, 264–65 (2004). Specifically, they argue that (1) the district court erroneously weighed a forum-selection clause against them under the third factor and (2) their discovery requests were not unduly burdensome or disproportionate to the needs of the case under the fourth factor. We identify no abuse of discretion in the district court’s ruling. Although the choice to seek discovery in a forum other than that selected in a forum- selection clause might not necessarily suggest an attempt to evade the kind of foreign proof-gathering restrictions addressed by the third Intel factor, a clear contractual preference for a different forum is nevertheless a factor that the district court may consider when assessing whether to grant discovery under § 1782. And we see no error in the district court’s determination that Appellants’ numerous, broad, and largely extraterritorial discovery requests were unduly burdensome under the fourth Intel factor. We therefore AFFIRM the district court’s order denying Appellants’ § 1782 petition. __________________

AUSTIN D. KIM , Meister Seelig & Fein PLLC, New York, NY (Alexander D. Pencu, Christopher J. Major, Meister Seelig & Fein PLLC, New York, NY, on the brief) for Petitioners- Appellants.

JAMES E. TYSSE, Akin Gump Strauss Hauer & Feld LLP, Washington,

2 DC (Lide E. Paterno, Akin Gump Strauss Hauer & Feld LLP, Washington, DC, Anne M. Evans, Sean Nolan, Akin Gump Strauss Hauer & Feld LLP, New York, NY, on the brief) for Respondents-Appellees.

GERARD E. LYNCH, Circuit Judge:

Petitioners-appellants Banoka S.à.r.l., ATYS S.A., Renato Picciotto, Jacques

Champy, and Jean Bissonnet (collectively “Banoka”) appeal from an April 16,

2024 order of the United States District Court for the Southern District of New

York (Gregory H. Woods, J.) denying their petition to compel discovery from

respondents-appellees Elliott Management Corp. (“EMC”) and Elliot Investment

Management, L.P., (“EIM”) as well as Elliott Associates, L.P., and Elliott

International, L.P. (together, “the Elliott Funds,” and collectively with EMC and

EIM, “Appellees”).1 Section 1782 permits a district court “upon the application of

any interested person,” to order a person within its jurisdiction to provide

evidence “for use in a proceeding in a foreign or international tribunal.” 28 U.S.C.

1 In the same petition, Banoka also sought to compel discovery from respondents Alvarez & Marsal, Inc., Alvarez & Marsal Transaction Advisory Group, LLC, and Alvarez & Marsal Holdings, LLC. The district court denied that discovery as well; on appeal, however, Banoka does not challenge the denial of its petition with respect to those entities.

3 § 1782(a).2 In its petition and on appeal, Banoka explained that it sought

discovery for use in a contemplated suit in the English courts that would bring

fraud claims against a non-party real estate development group whose business

deal with Banoka had fallen through in early 2020. The Elliott Funds were set to

provide funding for the deal, while EMC and EIM served as their advisors; thus,

Banoka believes that Appellees have documents and information relevant to the

potential litigation.

Banoka argues on appeal that the district court improperly applied two of

the four discretionary Intel factors when deciding their § 1782 petition. See Intel

Corp. v. Advanced Micro Devices, Inc., 542 U.S. 241, 264–65 (2004). Specifically, it

argues that (1) the district court erroneously weighed a forum-selection clause

against them under the third factor and (2) its discovery requests were not

unduly burdensome or disproportionate to the needs of the case under the fourth

factor.

2 That statute reads in relevant part:

The district court of the district in which a person resides or is found may order him to give his testimony or statement or to produce a document or other thing for use in a proceeding in a foreign or international tribunal.

28 U.S.C. § 1782(a).

4 Appellees respond that (1) we lack jurisdiction over this appeal, because

the district court permitted Banoka to resubmit its proposed subpoenas

regarding the Elliott Funds, Banoka has done so, and the district court has not yet

ruled on those revised subpoenas; (2) the district court did not abuse its

discretion when applying the third and fourth Intel factors; and (3) alternatively,

Banoka’s contemplated English proceeding is not “reasonably contemplated,” as

necessary to meet § 1782’s “for use” statutory requirement.

After oral argument, the parties confirmed in a joint letter to this Court that

Banoka has committed to dismiss its petition as to the Elliott Funds and

accordingly will not pursue its revised subpoenas before the district court.

Because that action resolves the only issue that remained open before the district

court, it renders the order from which Banoka appeals final for our purposes. See

Scottsdale Ins. Co. v. McGrath, 88 F.4th 369, 377 n.7 (2d Cir. 2023). Accordingly, we

have jurisdiction to decide this appeal. Chevron Corp. v. Berlinger, 629 F.3d 297,

306 (2d Cir. 2011).

Upon review, we identify no abuse of discretion in Judge Woods’s

handling of Banoka’s petition. Even if we were to assume that Banoka’s choice to

seek discovery in a forum other than the one identified in its forum-selection

5 clause does not necessarily demonstrate “an attempt to circumvent foreign

proof-gathering restrictions or other policies of a foreign country” within the

meaning of the third Intel factor, Intel Corp., 542 U.S. at 264–65, the forum-

selection clause at least suggests a contractual preference for resolving discovery

disputes in the selected forum, under that forum’s rules. It is within the district

court’s discretion to consider such a contractual preference, along with other

factors, when evaluating a § 1782 petition. Thus, the district court did not abuse

its discretion by considering the forum-selection clause as one factor among

many in this case.

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