Bank of China will face a daily fine in the US unless it complies with a
court request to give details of customers accused of selling fake
goods. The bank was held in contempt of court in Manhattan last week for
refusing to turn over the records.
The state-owned lender is appealing the civil contempt order and
fine of $50,000 a day starting on 8 December.
It said it would be violating China’s privacy law if it gave the
The records stem from a 2010 lawsuit by a group of luxury
retailers including Gucci and Yves Saint Laurent that sued a group of
Chinese companies for allegedly selling counterfeits goods like
The luxury brands had asked US district judge Richard Sullivan to
order the Bank of China (BOC) to pay $12m (?8m) to cover their losses
from counterfeiting or impose a fine.
The judge had initially ordered the bank to provide the customer
information in 2011 and then renewed the order in September.
"BOC’s refusal to comply with US law, while it continues to
receive the benefits attendant to its banking activity in the US, has
inflicted a significant harm on plaintiffs and the general public," Mr