U.S. Supreme Court tosses ruling that revived suit against Iran central bank

CERTIORARI – SUMMARY DISPOSITIONS

17-1529
17-1530
17-1534

CLEARSTREAM BANKING S.A. V. PETERSON, DEBORAH D., ET AL.
BANCA UBAE, S.P.A. V. PETERSON, DEBORAH D., ET AL.
BANK MARKAZI V. PETERSON, DEBORAH D., ET AL.

The petitions for writs of certiorari are granted. The judgment is vacated, and the cases are remanded to the United States Court of Appeals for the Second Circuit for further consideration in light of the National Defense Authorization Act for Fiscal Year 2020, Pub. L. No. 116-__ (S. 1790).

The National Defense Authorization Act of 2020 included a provision that makes it easier for victims to execute a judgement against foreign assets.

The Supreme Court vacated the lower court judgement so that the lower courts can reconsider their way forward on this. Most likely, the Second Circuit will remand this case to the Southern District of New York with instructions to vacate its previous judgement and reconsider the case under NDAA 2020.

While this favors terrorism victims, it does have the downside that it will encourage foreign countries to do the same thing against the United States, so there is a cost.

Hopefully, the courts will wield this new power cautiously and prudently.

Then their needs to be a new statute written and passed that will get by court muster satisfying the families and still leaving a deterrent for the future.

I’m not understanding their reasoning here but it is what it is I suppose.

Not like Iran is ever going to pay this.

This case concerns how the Plaintiffs can attach Iranian assets in the United States, as obviously Iran will never voluntarily pay the judgement.

The actual case that decided the judgement against Iran was decided years ago.

That’s in part why they just paid a penalty.

And why the law allows for Seizure of Iranian Assets in the US to compensate the families.

Iran owes more money in lawsuit then they have frozen in U.S assets.

Thanks Obama.