R. Allen Stanford’s court-appointed receiver can’t have a preliminary injunction freezing at least $50 million a Libyan sovereign wealth fund recovered during the final days of the Ponzi scheme, an appeals court ruled.
“The funds sought by the receiver are property of a foreign state and are not subject to attachment,” a three-judge panel of the U.S. Court of Appeals in New Orleans said today. The order sought would be “functionally equivalent to an attachment,” the court said………………………………………..Full Article: Source