Appeal by Liquidators of Eurofed Bank

In US v. Liquidators of Euro. Fed’l. Credit Bank, No. 09-10116, an appeal by several persons appointed as “Liquidators” of Eurofed Bank by an Antiguan court to assist in the collection and distribution of Eurofed’s assets to its rightful, law-abiding owners, from a forfeiture order in favor of the U.S. government, the court reversed where 1) judicial estoppel barred the government from arguing that Liquidators could not raise their legal claims challenging forfeitability; and 2) a final judgment against the government in a civil forfeiture proceeding acted as res judicata against a criminal forfeiture proceeding with respect to the same property when the claims in the latter proceeding arose from the same transactional nucleus of facts.

 

Related Resources

  • Read the Ninth Circuit’s Decision in US v. Liquidators of Euro. Fed’l. Credit Bank, No. 09-10116

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