Tasnim The British government settled a 1.25 billion pound ($1.6 billion) damages claim brought by Irans largest private bank in a last-minute out-of-court deal following a dispute over sanctions. Bank Mellat, which is 20% owned by the Iranian government and 80% privately held, said on Tuesday the legal row had been resolved for an undisclosed ...

Ali Rastegar, Bank Mellats CEO, said on Monday that the UK High Court has ruled in favor of his bank and it will receive $4 billion in compensation by late spring. Mellat had made a case against the UK Treasury for being sanctioned without sufficient evidence because of its involvement in the country's nuclear program. According to Rastegar, the ...

LONDONIran's largest private bank, Bank Mellat, is suing the U.K. Treasury for some $4 billion in compensation for what it alleges was lost business due to British sanctions against Iran. A spokesman for the U.K. Treasury said he couldn't comment on ongoing legal proceedings. In a filing on Friday with London's Commercial Court, which was reviewed ...

Iran's Bank Mellat seeks to file a claim of at least 500 million pounds (USD 820 million) in compensation against the British government for loss of business caused by illegal sanctions on Tehran over its nuclear energy program, a lawyer for the bank says. It is the first time that an Iranian lawsuit over sanctions has reached the stage of claiming ...

Sanctions against Iran come under question after a bank won a case opposing its inclusion on the Iran nuclear sanctions list. Could the European Union may have met its biggest obstacle - its own law courts, asks Sarosh Zaiwalla? The UK Supreme Court delivered its judgement in respect of Bank Mellats appeal in relation to its listing under the Iran ...

Iran's Bank Mellat intends to make a legal claim of 500 million pounds (USD 782 million) against the British government for loss of business caused by US-engineered illegal sanctions on Tehran between 2009 and 2013. Britains Supreme Court overturned in June a ruling against Bank Mellat over its alleged links to Tehran's nuclear energy program. On ...