Letter From R. Richard Newcomb to Citigroup re: TRIA Attachment; 2006 DOJ Letter in re: Same

Date issued: Sep. 08 2004

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TURBOFAC Commentary (201 words)

Notes:

1) In the 2004 letter, OFAC says that the determination of whether "assets...are to be turned over to these plaintiffs pursuant to the TRIA" is left to the court, but appears to assert jurisdiction over the actual transfer of blocked funds pursuant to a TRIA-based turnover order. OFAC appears to have changed its opinion on that issue (see e.g. Case-No-CU-77689 ("a license from OFAC is not needed to execute on a judgment against blocked property in accordance with the requirements of section 201 (a) of the Terrorism Risk Insurance Act of 2002")). See also Harrison v. Republic of Sudan, 802 F.3d 399 (2d Cir. 2015).

2) In the 2006 letter, the DOJ writes to a court in an attachment case to convey that "[i]t is...