US judge authorizes fund to subpoena New York Fed for documents related to Radiant World
NEW YORK, Oct 6 : A US judge on Tuesday authorized an investment fund that filed a criminal complaint in Switzerland against iron ore trader Radiant World to subpoena payments records from the Federal Reserve Bank of New York and the Clearing House Interbank Payments System.
US District Judge John Cronan in Manhattan said Mariner Atlantic Multi-Strategy LLC's requested subpoenas were not unduly intrusive or burdensome because they sought seemingly "easy-to-collect payments records related to specific accounts and a specific timeframe."
He also said subpoenas were appropriate because it was not otherwise possible for Mariner to obtain the records it sought, and Swiss courts were "receptive" to assistance from their US counterparts.
Radiant World did not immediately respond to a request for comment outside business hours.
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