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Civil Procedure – TRIA

By: WISCONSIN LAW JOURNAL STAFF//April 3, 2015//

Civil Procedure – TRIA

By: WISCONSIN LAW JOURNAL STAFF//April 3, 2015//

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U.S. Court of Appeals For the Seventh Circuit

Civil

Civil Procedure – TRIA

Under the Terrorism Risk Insurance Act, funds subject to a government license do not qualify as blocked assets.

“TRIA’s text, on at least two key points, is quite plain: (1) the only assets subject to execution are blocked assets; and (2) assets that are subject to a United States Government (‘USG’) license for final payment, transfer, or disposition, among other requirements, do not qualify as blocked assets. Because the defendant funds here are subject to such a license and have been arrested for civil forfeiture, they do not qualify as blocked assets under TRIA. Appellees’ claims under TRIA therefore must fail. Although we find Appellees possess both constitutional and statutory standing, we nevertheless vacate the district court’s grant of summary judgment in favor of Appellees. Appellees cannot prevail on the merits under TRIA.”

Vacated and Remanded.

13-3732 & 13-3738 U.S. v. All funds on Deposit with R.J. O’Brien & Associates

Appeals from the United States District Court for the Northern District of Illinois, Kennelly, J., Kanne, J.

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