Topics in Brief

• Author: International Law Group
• Pages: 17-20

Page 17

India allows dual citizenship to its citizens

By traditional Indian law, citizenship lapsed the instant the Indian citizen took the oath of U.S. citizenship. That nation, however, has recently joined a growing list of countries which allow their citizens to be simultaneous nationals of other countries, i.e. dual citizens. To some social conservatives, dual citizenship strikes a blow to patriotism. Globalists, however, view it instead as a ticket to unimpeded labor mobility and a curb on the power of nationalism. Moreover, many governments regard dual citizenship as a way of retaining an economic link to their emigrants. For example, Indians abroad send more money home-$22 billion in 2004-than any other national group, including the overseas Chinese. Persons born in the U.S. can generally acquire a second citizenship if they qualify elsewhere. The number of U.S. citizens who either hold (or are entitled to hold) a second passport is about 40 million. On the basis of ancestry, in fact, several countries-notably Ireland, Italy and Israel-positively encourage Americans to becomePage 18 dual citizens. An American with an European Union passport, for instance, can live permanently in any of the 27 E.U. countries without laboring through the usual immigration formalities. By 2003, 15 of 17 Latin American nations allowed some type of dual citizenship. India's change in policy means that every major country whose nationals emigrate to the U.S. now allows dual citizenship except for China, South Korea and Cuba.

Citation: Factiva, a publication of Dow Jones and Reuters Company , New York City, Friday, December 15, 2006, at page B1.

New York federal court dismisses suit between French entities on forum non conveniens grounds

Carlyle Europe Partners (CEP) is a private equity fund in Europe; Otor, S.A., is a fi nancially stretched French paper company. In May of 2000, CEP agreed to invest about 44 million euros in Otor. This done, CEP would obtain a minority equity position in Otor Finance, S.A. plus convertible bonds. If CEP converts the bonds to shares, this would give it a controlling stake in Otor Finance as well as indirect control of Otor S.A. The following year, Carlyle Luxembourg shareholders tried to obtain early conversion of their bonds; Otor Finance balked, however, and sought arbitration and a court action in France. The arbitrators ultimately decided that Otor had a duty to convert the bonds. Dissatisfi ed with the...