NY S05623

Excludes foreign governments and foreign-government-guaranteed debt from the champerty defense exemption, defining such obligors as ineligible for the $500,000 aggregate purchase price threshold that would otherwise exempt claim assignments from champerty restrictions.

Allows courts to infer an assignee's intent in acquiring claims against foreign governments based on the assignee's history of either participating in good-faith consensual debt resolutions or engaging in pattern litigation after purchasing claims at steep discounts.

Establishes a reduced interest rate for judgments against foreign governments and foreign-government-guaranteed debt instruments, using the weekly average one-year Treasury yield instead of the standard nine percent per annum rate, effective May 15, 2024.

Defines "monies borrowed" to include bonds, notes, debentures, deferred purchase payments, capitalized leases, and credit extensions with original maturity of at least one year for purposes of applying the new interest rate to foreign sovereign debt claims.

Takes effect immediately upon enactment.