$700,000 Judgment Against Lloyd's Name is Enforceable, 2nd Circuit Affirms

NEW YORK - A $700,000 judgment levied by an English court against a Lloyd's of London Name is enforceable in the United States and does not contravene New York public policy, a federal appeals court has affirmed. Tropp v. Corporation of Lloyd's, No. 08-2332 (2nd Circuit).

On July 19, the 2nd Circuit U.S. Court of Appeals rejected Richard A. Tropp's assertion that the judgment violates the Uniform Foreign Money-Judgments Recognition Act because he was denied due process in the English courts.

Tropp invested $160,000 of his retirement savings in the Lloyd's market and signed a general undertaking, which required …