Bank of America, N.A. v. Veluchamy

Federal 7th Circuit Court
Civil Court
Citation to Discover Assets
Citation
Case Number: 
Nos. 11-1704 & 11-1705 Cons.
Decision Date: 
June 16, 2011
Federal District: 
N.D. Ill., E. Div.
Holding: 
Affirmed
Dist. Ct. did not err in directing defendants (judgment debtors who had defaulted on loans totaling $39 million) in citation to discover proceedings to tender their passports until certain funds were transferred to Dist. Ct. Record showed that instant defendants, who had transferred sizeable assets to out-of-country bank, demonstrated flight risk, especially where defendants had few assets in U.S. Moreover, instant order was within Dist. Ct.'s authority where said order was needed to support Dist. Ct.'s ability to enforce underlying judgment and to prevent loss of assets.