Asset Forfeiture and Insolvency: A Parallel Case Management Guide

    Asset Forfeiture and Insolvency: A Parallel Case Management Guide

    Asset Forfeiture and Insolvency: A Parallel Case Management Guide

    As a result of rapid evolution of forfeiture law and its perceived encroachment on traditional insolvency law, this guide identifies the differences between the forfeiture and insolvency processes for the courts' and parties' understandings. The guide covers regulatory schemes, parties, competing considerations, and policies at stake to assist the courts in making fully-informed decisions.

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    This guidebook is the product of an interdisciplinary and interagency working group that was organized under the auspices of the American Bar Association. Since 2010, the group has been studying and seeking solutions for recurring tensions between governmental enforcement proceedings involving the forfeiture of a wrongdoer’s assets and insolvency proceedings that assert jurisdiction over the disposition of the same assets. As a result of the working group’s report and recommendations, the ABA adopted a resolution in February 2014 encouraging all of the entities, agencies, and courts involved in overlapping forfeiture proceedings and insolvency proceedings to develop protocols and work toward enactment of appropriate legislative and rules changes to address these complex intersections.

    The guidebook is designed to identify the underlying statutes and rules, articulate the positions and arguments the courts are likely to encounter, and provide courts with resources for managing these cases. These resources include links and references to governmental agency websites and materials, as well as summaries of positions trustees generally assert. A robust understanding of these complexities and competing positions, and access to these resources, will aid the courts in administering these cases and ruling on any settlements, including coordination and cooperation agreements, the parties might propose.

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    Publication Date

    10/4/2019 12:00:00 AM

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