CT-GL-34
ExpiredAuthorizing the Wind Down of Transactions Involving Kovay Gardens
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Summary
General License No. 34 authorizes transactions that are ordinarily incident and necessary to the wind down of any transaction involving Kovay Gardens, or any entity in which Kovay Gardens owns a 50 percent or greater interest, that would otherwise be prohibited under the Global Terrorism Sanctions Regulations (31 CFR part 594) or the Illicit Drug Trade Sanctions Regulations (31 CFR part 599). The authorization is time-limited and subject to the condition that any payment to a blocked person be made into a blocked account in accordance with those regulations. Transactions involving other blocked persons not described in paragraph (a) are explicitly excluded unless separately authorized.
Authorized activities
- Wind down of any transaction involving Kovay Gardens
- Wind down of any transaction involving any entity in which Kovay Gardens owns, directly or indirectly, a 50 percent or greater interest
Conditions
Any payment to a blocked person must be made into a blocked account in accordance with the IDTSR and GTSR. The license does not authorize transactions involving any person blocked pursuant to the GTSR or IDTSR other than the blocked persons described in paragraph (a), unless separately authorized.