Update (June 19, 2012): Preeminent Twin Cities collections lawyer, John Halpern chimes in on the query below about Dupont’s recently filed huge judgment:
Taking an aggressive collection approach, DuPont’s attorneys, pursuant to 28 U.S.C. 1963 (the federal judgment registration statute), have docketed their $1.269 billion ($919 million in jury-awarded damages plus $350 million in court-awarded punitive damages) Virginia federal court judgment in six states where Kolon is believed to have assets and/or operations: Washington, California, Michigan, Minnesota, New Jersey, and New York. I expect them to hire local counsel in those states to start garnishing and levying upon Kolon’s assets until Kolon cries “uncle” and seeks to quickly negotiate a monetary settlement, assuming Kolon’s appeal is unsuccessful.
Original post (June 18, 2012): Minnesota Litigator notes the filing of Dupont Chemical’s judgment against Kolon Industries, Inc., obtained in federal court in Virginia in the District of Minnesota. Weighing in at $920 million dollars+, this has to be one of the larger judgments docketed in the district of late.
But here is the puzzle: why is Dupont filing their Virginia judgment against this Korean company with a U.S. subsidiary based in New Jersey in Minnesota? One has to wonder whether Kolon has assets here. Anyone in Minnesota doing business with Kolon, with a joint venture with Kolon, with accounts payable to Kolon, with Kolon property might want to take notice?