6th Circ. Vacates Ruling In $2B National Century Case

Law360, New York (July 3, 2008, 12:00 AM EDT) -- In a case involving a former National Century Financial Enterprises Inc. executive convicted of securities fraud, an appeals court has ruled that the federal government may file a notice of lis pendens against substitute assets prior to a forfeiture order as long as it has met relevant state law requirements.

In its July 3 decision, the U.S. Court of Appeals for the Sixth Circuit vacated an earlier opinion by the U.S. District Court for the Southern District of Ohio that the federal government lacks authority to...
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