It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Iran owes $8.4 billion to more than 300 who were injured or whose loved ones died in the 1983 bombing of the U.S. Embassy in Beirut, Lebanon, a federal judge ruled.
In 1983, a Hezbollah suicide bomber drove a vehicle filled with more than 2,000 pounds of explosives into the U.S. Embassy in Beirut, Lebanon, killing 63 people. Six months later, Hezbollah carried out the more famous bombing of the U.S. Marine Barracks in Beirut, killing almost 300 American and French soldiers.
(Source: Courthouse News)
In the barracks bombing, the U.S. District Court for the District of Columbia has issued more than $9.5 billion in judgments against Iran for its support of Hezbollah.
The court on Thursday ordered Iran to pay another $8.4 billion for the Embassy bombing, adopting the recommendation of U.S. Magistrate Judge John Facciola
WASHINGTON -- More than $2 billion allegedly held on behalf of Iran in Citigroup Inc. accounts were secretly ordered frozen last year by a federal court in Manhattan, in what appears to be the biggest seizure of Iranian assets abroad since the 1979 Islamic revolution.
The legal order, executed 18 months ago by the U.S. District Court for the Southern District of New York, is under seal and hasn't been made public. The court acted in part because of information provided by the U.S. Treasury Department.
Source
The legal battle over the funds could lead to a trial. A victory for the plaintiffs would mark the largest seizure of Iranian funds since Islamist parties seized power in Tehran from the U.S.-backed Shah in 1979.
That year, the U.S. government froze around $12 billion of Iranian assets in retaliation for the kidnapping of American diplomats and military personnel. While a portion of the funds was returned after the hostages' release, a United Nations body in the Netherlands continues to try and arbitrate the return of the remaining assets, which include bank deposits, gold and real estate.
Originally posted by Wrabbit2000
reply to post by benrl
You know, in reality? It depends on how the Federal Government wants to play it, if at all. Iran isn't on our favorites list...so there are ways to make good on the Judgment without Tehran paying directly....yet still very much paying.
WASHINGTON -- More than $2 billion allegedly held on behalf of Iran in Citigroup Inc. accounts were secretly ordered frozen last year by a federal court in Manhattan, in what appears to be the biggest seizure of Iranian assets abroad since the 1979 Islamic revolution.
The legal order, executed 18 months ago by the U.S. District Court for the Southern District of New York, is under seal and hasn't been made public. The court acted in part because of information provided by the U.S. Treasury Department.
The US holds considerable money from Iran and has since 1979, atop what is listed above.
Source
The legal battle over the funds could lead to a trial. A victory for the plaintiffs would mark the largest seizure of Iranian funds since Islamist parties seized power in Tehran from the U.S.-backed Shah in 1979.
That year, the U.S. government froze around $12 billion of Iranian assets in retaliation for the kidnapping of American diplomats and military personnel. While a portion of the funds was returned after the hostages' release, a United Nations body in the Netherlands continues to try and arbitrate the return of the remaining assets, which include bank deposits, gold and real estate.
I'm not sure how the world would feel about U.S. Courts tapping that for a U.S. held decision...but I'm not sure anyone here will much care, either. I'm staying neutral in opinion on how money may or may not be recovered for the judgement, but will certainly keep my eyes open for more to develop.