DC Circ. TRIA Decision Could Ease Garnishment Burden

Law360, New York (December 12, 2013, 7:01 PM EST) -- A recent decision from the U.S. Court of Appeals for the District of Columbia Circuit is good news for banks facing an ongoing crush of garnishment litigation. The decision in Heiser v. Islamic Republic of Iran reduces the universe of blocked accounts that are subject to turnover under the Terrorism Risk Insurance Act and may persuade the Court of Appeal for the Second Circuit to take the same approach in an appeal before that court raising similar issues.

Various federal sanctions programs require banks to freeze...
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