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RUTGERS UNIVERSITY LAW REVIEW COMMENTARIES JANUARY 29,2018
THE UNIFORM ASSET-PRESERVATION ORDERS ACT:
QUIETING THE ALARMS WITH LESSONS FROM ABROAD
Alexander Firsichbaum*
INTRODUCTION
One of the best feelings for a plaintiff's trial attorney might be the
award of a large money judgment, not only for the fee, but for the feel-
ing that the hard work has paid off and the client has received just
compensation. The celebratory mood will quickly turn sour, however,
upon learning that the defendant has quietly dissipated all of its assets
beyond the court's territorial jurisdiction in anticipation of an adverse
money judgment. While the attorney might be able to seek relief under
a fraudulent transfer statute, this often may not bring all the money
back. A prudent attorney might have sought a pre-judgment attach-
ment order to keep known assets where they are, but an adversary with
assets already located in a different state or country will be hard to beat
in the world of online banking. Even the Supreme Court has acknowl-
edged that increasingly sophisticated foreign-haven judgment proofing
strategies, coupled with technology that permits the nearly instantane-
ous transfer of assets abroad, suggests that defendants may succeed in
avoiding meritorious claims in ways unimaginable before ....1
* Litigation Associate with Orloff, Lowenbach, Stifelman & Siegel. The author is a
2016 graduate of Rutgers Law School and a former Executive Editor of the Rutgers Uni-
versity Law Review. The author would like to thank his wife, Megan, for patiently listen-
ing to his thoughts on civil procedure, and his friends at the New Jersey Law Revision
Commission for their invaluable support and guidance.
1. Grupo Mexicano de Desarrollo, S.A. v. Alliance Bond Fund, Inc., 527 U.S. 308,
338-39 (1999) (Ginsberg, J., concurring in part and dissenting in part) (citing Lynn
Lopucki, The Death of Liability, 106 YALE L.J. 1, 32-38 (1996)). One commentator has
observed that the movement of money has evolved from the physical transfer of notes in
satchels to transfer by electronic transmission, economic, governmental, and legal groups
interested in the proceeds of those transfers have sought to adapt to keep pace . . . [with]
the problems created by the explosion of liquidity. James R. Theuer, Pre-Judgment Re-
straint of Assets for Claims of Damages: Should the United States Follow England's
Lead?, 25 N.C. J. INT'L L. & CaM. REG. 419, 420 (2000).
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RUTGERS UNIVERSITY LAW REVIEW COMMENTARIES
JANUARY 29, 2018](ViewImageLocal?handle=hein.journals/rgsusty2018&div=1&collection=&method=preview&ext=.png&size=3)
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