• June 19, 2012

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.

Dupont sued Kolon back in 2009 for allegedly stealing trade secrets related to Dupont’s Kevlar.

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?

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