News & Analysis as of

Asset Freeze

EU adopts sanctions against Venezuela

by White & Case LLP on

The EU has adopted a range of targeted sanctions against Venezuela, including an arms embargo and a ban on exports of equipment which could be used for internal repression and surveillance, as well as setting up a legal...more

FTC Obtains TRO Temporarily Freezing Assets of Georgia-Based Debt Collection Business

by Goodwin on

?On November 8, a federal court in Georgia issued a temporary restraining order against a Georgia-based debt collector, freezing its assets and granting the Federal Trade Commission (“FTC”) immediate access to its business...more

Chris Lazarini Discusses Pro Rata Distribution of Assets in Receiver Case

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini discussed a case involving the repercussions of the multi-billion dollar Ponzi scheme of Thomas Petters related to the management of the Stewardship Credit Arbitrage Fund, LLC...more

A Primer on Canadian Sanctions Legislation

Canada, like other major jurisdictions, has introduced a broad range of economic and financial sanctions targeting foreign states and their nationals, as well as various terrorist organizations. Given that Canada is in...more

EU expands sanctions against North Korea, as well as Russia and Libya

by White & Case LLP on

The EU has adopted a wide range of new sanctions measures against North Korea including a broad investment ban applicable across all sectors. In addition, the EU has designated certain Russian persons involved in a transfer...more

“The cold never bothered me anyway!” SEC again uses its power to freeze an alleged EB-5 scam

Like Elsa, the Princess in Disney’s classic Frozen, once again the Securities and Exchange Commission (SEC) has utilized its power to freeze. In this case, the freezing of assets. In what has become an increasingly common...more

SEC Brings First Enforcement Action Related to Initial Coin Offerings

by Jones Day on

The Situation: Promoters of two recent initial coin offerings face charges of investor fraud brought by the SEC, after allegedly misrepresenting the assets purportedly backing the offerings, exaggerating the amount of funds...more

Accounts Frozen: DOJ Alleges Seven Defendants Conspired To Misappropriate Trade Secrets

Competition from Chinese companies shows no signs of slowing. Likewise, allegations of trade secret theft against Chinese companies are increasingly common. In this case, the U.S. Department of Justice linked allegations of...more

Expanded Russia, Iran, and North Korea Sanctions; Top 10 Takeaways (Japanese Translation)

by Latham & Watkins LLP on

President Trump signs the “Countering America’s Adversaries Through Sanctions Act,” which — among other measures — requires Congressional review to ease Russia-related sanctions. On Wednesday, August 2, 2017, President...more

Russia Sanctions - EU Expands Sanctions Following Alleged Diversion of Siemens Turbines

On August 4, 2017, the Council of the European Union (the “Council”) made six new designations to the list of persons subject to restrictive measures in respect of actions undermining or threatening the territorial integrity,...more

OFAC Targets Alleged Mexican Drug Boss and “His Vast Network,” Including International Soccer Superstar

by Ballard Spahr LLP on

Describing him as a “longtime Mexican Drug Kingpin,” the Office of Foreign Assets Control (OFAC) of the U.S. Department of Treasury has designated Raul Flores Hernandez and the “Flores Drug Trafficking Organization,” or ...more

United States Imposes Sanctions on Venezuela’s President and 13 Current and Former Government Officials

On July 31, 2017, the U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC) announced the addition of Venezuelan President Nicolas Maduro to its list of Specially Designated Nationals and Blocked Persons...more

FTC Obtains Temporary Restraining Order Freezing Assets of Debt Collection Operation

by Goodwin on

?On July 10, 2017, the U.S. District Court for the Middle District of Florida entered a temporary restraining? order (“TRO”) halting operations and freezing the assets of a debt collection operation, at the request of the...more

Ahead of Maduro Power Play, Trump Administration Sanctions Venezuelan Officials

by Hogan Lovells on

Ahead of a Constituent Assembly that could re-write the Venezuelan Constitution and dissolve state institutions, the U.S. Treasury Department’s Office of Foreign Assets Control has designated 13 current and former Venezuelan...more

SEC and U.S. Attorney’s Office Bring Action Against Promoter of Bitcoin Store, Inc.

by Perkins Coie on

On June 30, 2017, the SEC and the U.S. Attorney brought parallel civil and criminal fraud charges against Renwick Haddow, the owner of an unregistered broker-dealer entity named InCrowd Equity Inc., and two corporate entities...more

NC AG Obtains Judgment Against Auto Title Lender For Illegal Loans

by Goodwin on

?On May 8, 2017, the North Carolina Attorney General (“NC AG”) announced that it had obtained a final judgment against an auto title lender and two of its employees in North Carolina State Court. The NC AG alleged that the...more

"The Risks Associated With Worldwide Freezing Orders"

A worldwide freezing order is an injunction granted by the English courts to restrain individuals or businesses from disposing of or dealing with assets on a worldwide basis. The order can be sought before, or...more

Pastor Fraud, Say It Isn’t So

by Fox Rothschild LLP on

The SEC recently announced fraud charges, and sought an emergency asset freeze against a pastor who was accused of exploiting church members, retirees, and laid-off autoworkers. Apparently, he mislead these people by...more

EU prolongs sanctions against Russia

by DLA Piper on

On 13 March 2017, the Council of the European Union (EU) adopted Council Implementing Regulation (EU) 2017/437 and Council Decision 2017/445/CFSP extending the validity of sanctions (Restrictive Measures), including the asset...more

The Policing and Crime Act 2017: Changes to the UK Financial Sanctions Regime

The policing and crime bill received royal assent on 31 January 2017. The new Policing and Crime Act 2017 (the Act) introduces changes to a wide cross-section of the criminal justice system, including policing powers and...more

Dealing With Judgment Enforcement in Hong Kong? Two Key Misconceptions to Dispel

by Kobre & Kim on

Due to its proximity and relationship with the People’s Republic of China, Hong Kong has, at times, suffered from the misconception that it is a difficult jurisdiction within which to freeze assets and enforce judgments or...more

Tactics For Managing Marital Finances

by McManis Faulkner on

During a dissolution of marriage, financial management is essential to avoiding court imposed sanctions. Parties to a dissolution are required to preserve assets until the court has determined respective interests. At times...more

FTC Enters Into Landmark Settlement With Network Marketing Company; Vemma Lives To Play Another Day

by Buchalter on

The sixteen month long lawsuit between the Federal Trade Commission and Vemma Nutrition Company has come to a negotiated resolution under terms which will allow Vemma to continue operating its business under restrictions...more

On the Eve of a New Administration, Sanctions on North Korea Tighten

On November 30, 2016, the United Nations Security Council (UNSC) passed a unanimous resolution strengthening sanctions against North Korea. The Resolution comes in response to the conduct of the latest round of nuclear tests...more

European Regulation on the freezing of bank accounts – are you ready?

by Allen & Overy LLP on

From 18 January 2017, claimants will be able to apply for a European Account Preservation Order (EAPO), a new, and potentially potent, weapon in their litigation armoury pursuant to the new European EAPO Regulation...more

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Cybersecurity

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