Panel Remands For Ruling On Property's Use To Satisfy Insurer's $33M Award

Mealey's (July 31, 2020, 1:41 PM EDT) -- WASHINGTON, D.C. — The District of Columbia Circuit U.S. Court of Appeals on July 28 vacated a lower court's denial of an emergency motion for attachment-related relief and remanded for that court to determine whether property belonging to the Republic of Argentina was "used for a commercial activity" and, thus, could be attached to a $33 million arbitration award in favor of an insurer to satisfy Argentina's reinsurance debts (TIG Insurance Company v. Republic of Argentina, et al., No. 19-7087, D.C. Cir., 2020 U.S. App. LEXIS 24034)....