BETHESDA, Md. (May 28, 2014) — Bluestone Law International (“BLI”) today announces that it has secured a significant post-judgment recovery in U.S. federal court in Chicago, on behalf of a leading international export credit insurer, through garnishment proceedings against a prominent third-party financial institution.
After obtaining a judgment in September 2013, BLI led an aggressive and creative effort to have the judgment satisfied on behalf of its client. Through federal and Illinois post-judgment discovery and enforcement mechanisms, BLI was able to locate assets sufficient enough to cover the balance of the judgment and interest. After tracing, identifying and freezing assets in the name of the Defendant, BLI immediately requested that the funds be turned over to its client. BLI’s request was quickly granted by the court and the funds were received shortly after. By swiftly freezing the defendant’s assets, BLI was able to paralyze the defendant company’s activities and put an end to this multi-year litigation.
The underlying transaction insured by the plaintiff involved the sale of chemicals from an Asian exporter to a bioscience company with a presence in the U.S. and India. Utilizing its significant global contacts and creativity, BLI was able to successfully recover these funds for its export credit insurer client. The BLI litigation team was led by attorneys M. Zachary Bluestone and Kyle Choi.
About the firm:
One of the world’s leading asset/debt recovery firms, BLI is responsible for numerous domestic and cross-border recoveries across the globe. Tracing its roots back to 1842, and with a global presence, BLI focuses on international creditors’ rights and becoming the global leader in international recoveries. Regularly entrusted by clients ranging from governments and leading financial institutions, to small and medium sized businesses and individuals, BLI brings together the necessary resources to solve trade, credit, and asset recovery matters in the U.S. and throughout the world. More information about BLI can be found online at www.bluestonelaw.com.
M. Zachary Bluestone, Esq.