Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Iran says to fight U.S. suit to seize $1.7 billion held by Deutsche Boerse unit

Published 08/29/2020, 03:01 PM
Updated 08/29/2020, 03:05 PM
© Reuters.

© Reuters.

DUBAI (Reuters) - Iran's central bank said on Saturday it was taking legal steps to counter a lawsuit filed in a U.S. court by creditors seeking to seize $1.7 billion of its assets held by Deutsche Boerse's (DE:DB1Gn) Clearstream unit.

The German stock exchange operator said earlier the creditors had filed the suit in a New York court seeking to require Clearstream to surrender assets that allegedly belong to Iran's central bank. It said the clearing house considers the claims to be unfounded and will take steps to defeat them.

Amir Hossein Tayyebi Fard, a deputy governor of the Iranian central bank, said in a statement: "After repeated legal defeats in Luxembourg, the U.S. plaintiffs are seeking legal action in U.S. courts against Clearstream. Serious legal action is also underway to counter these measures."

Tayyebi Fard did not give details of the bank's legal measures to prevent a seizure of the assets which he said were worth $1.7 billion, according to the statement posted on the bank's website.

U.S. authorities have targeted Luxembourg-based Clearstream for years in an investigation over whether it violated U.S. money laundering and Iran sanction laws. Deutsche Boerse has denied wrongdoing.

In 2019, a Luxembourg court refused to enforce a U.S. ruling that would have helped families of victims of the Sept. 11, 2001 attacks claim Iranian assets held with Clearstream.

In 2012, a New York court found there was evidence to show that Iran provided “material support and resources to al Qaeda for acts of terrorism”. The militant group carried out the hijacked plane attacks on New York and Washington.

That court awarded the plaintiffs damages of over $7 billion. Iran denies any links to Al Qaeda or any involvement in the Sept. 11 attacks.

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.