https://www.taxtmi.com/caselaws?id=373164 A bona fide secured creditor's prior mortgage and hypothecation were held to prevail over a later attachment under the money-laundering law, because the secured asset had been created long before the attachment and the later statutory priority for secured creditors was treated as governing the field. The Tribunal found that the money-laundering regime did not override the bank's security interest where the asset was not shown to be proceeds of crime, so the provisional attachment could not be sustained against the bank. It also held that, after a moratorium under the insolvency code, continuation and confirmation of the attachment proceedings were inconsistent with the moratorium and could not continue. en-us Wed, 02 Jan 2019 00:00:00 +0530 Mon, 07 Jan 2019 14:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373164 A bona fide secured creditor's prior mortgage and hypothecation were held to prevail over a later attachment under the money-laundering law, because the secured asset had been created long before the attachment and the later statutory priority for secured creditors was treated as governing the field. The Tribunal found that the money-laundering regime did not override the bank's security interest where the asset was not shown to be proceeds of crime, so the provisional attachment could not be sustained against the bank. It also held that, after a moratorium under the insolvency code, continuation and confirmation of the attachment proceedings were inconsistent with the moratorium and could not continue. Case-Laws Money Laundering Wed, 02 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373164