Stephen R. Cochell
Supreme Court Skeptical of Authority for FTC Asset Freezes and Receiverships
The Supreme Court heard oral arguments in FTC v. AMG, 910 F.3d 417 (9th Cir. 2018), cert. granted, No. 19-508. As a matter of full disclosure, I served as trial and appellate counsel in FTC v. Credit Bureau Center, LLC, 937 F.3d 964 (7th Cir. 2019), a companion case to AMG which will be decided after a decision by the Court in AMG. The AMG case was decided by the Ninth Circuit, which relied on long-standing precedent to reverse its holding that Section 13J(b) allows the FTC to seize businesses and personal assets of company owners to satisfy monetary judgments. Until Credit Bureau Center reversed long-standing precedent in seven circuit courts of appeal, it was unlikely the Supreme Court could demonstrate a circuit split or some other ground justifying review of the Ninth Circuit’s decision.