HSBC Bank USA v. Silverline Technologies Ltd.

SUMMARY ORDER

Silverline Technologies Ltd. and Ravi Subramanian (collectively “Silverline”) appeal from a judgment of the United States District Court for the Southern District of New York (Stanton, J.) granting HSBC *98Bank USA’s (“HSBC”) motion for a turnover order and denying Silverline’s cross-motion for a temporary stay. In 2002 HSBC obtained a $27 million judgment against Silverline, of which at least $17 is still owed. Silverline did not contest the validity of the judgment but argued that an immediate turnover of its assets would effectively destroy its business without substantial…