• Sat / 10 August 2019 / 14:26
  • Category: Politics
  • News Code: 98051909528
  • Journalist : 71593

Alavi Foundation seizure overturned by US court

Alavi Foundation seizure overturned by US court

Tehran (ISNA) - A jury verdict allowing the U.S. government to seize a midtown Manhattan office tower that it said was effectively controlled by Iran was thrown out by a federal appeals court, which cited several errors by the trial judge, Reuters reported.

The 3-0 decision by the 2nd U.S. Circuit Court of Appeals in Manhattan is a defeat for the Department of Justice, which went to trial hoping to sell the 36-story building at 650 Fifth Avenue, perhaps for close to $1 billion, and distribute proceeds to victims of “bombings and other attacks linked to Iran”.

Jurors had found in June 2017 that the nonprofit Alavi Foundation, which had a 60% stake in the partnership that owned the building, violated U.S. sanctions imposed against Iran in 1995 because it knew that the 40% owner, Assa Corp, was a front for an Iranian state-owned lender, Bank Melli.

Separately, the same appeals court panel set aside Forrest’s 155-page opinion, which followed a non-jury trial, in favor of victims of alleged terrorist attacks linked to Iran, who sought damages from Alavi and the partnership, 650 Fifth Avenue Co.

The court said victims could pursue some claims in a retrial, but not others because the partnership was not a “foreign state,” as Forrest had wrongly concluded.

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