Wyatt et al v. Syrian Arab Republic - U.S. Statement of Interest

Date issued: Jan. 23 2015

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TURBOFAC Commentary (424 words)

Notes:

In a TRIA attachment case, one of the assets sought was a ~$150,000 payment from the Syria Government to U.S. persons that was, on May 21, 2013, blocked by a bank as a result of it having been initiated without a valid OFAC license. "On May 21, 2014, plaintiffs served a writ of attachment issued by the deputy clerk of court and interrogatories on ADIB in an effort to execute the judgment against Syria." The government and OFAC sought to dissolve the writ of attachment, arguing that because of a license issued by OFAC on November 7, 2014 for the bank to process the original payment, the asset was no longer "blocked" within the meaning of TRIA.

The court agreed with this, holding that:

"regardless of whether the funds were frozen or seized as of the date of...