United States v. Art Ins.Co., No. 13-3738 (7th Cir. 2015)
Annotate this CaseEnacted after the attacks of September 11, 2001, the Terrorism Risk Insurance Act (TRIA), authorizes execution, in satisfaction of judgments against terrorists, on blocked assets that are seized or frozen by the United States. The plaintiffs, victims of terror, hold a judgment against al Qaeda for their $2.5 billion subrogation claims. The Seventh Circuit vacated summary judgment in favor of plaintiffs. Although plaintiffs have constitutional and statutory standing and TRIA is a remedial statute, under the statute the only assets subject to execution are blocked assets. Assets that are subject to a United States government license for final payment, transfer, or disposition, among other requirements, do not qualify as blocked assets. By the time plaintiffs filed their initial claims, the Office of Foreign Assets Control had already issued its license and the funds had already been arrested to preserve them for forfeiture; the funds were no longer blocked.
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