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Bank Mellat Receives Damage Claim From UK

Bank Mellat Receives Damage Claim From UK Bank Mellat Receives Damage Claim From UK

Bank Mellat received compensation it had demanded on the UK after the lender won a court case against the UK Treasury in June. 
In a letter to the Securities and Exchange Organization, the lender said it has received the “the amount agreed” with the UK Treasury after winning a court case related to a UK ban on activities of the bank in 2009. 
Bank Mellat is 80% privately owned, with the government in Tehran holding a 20% stake. 
On June 18, London made a last minute deal to settle a £1.3 billion ($1.6 billion) damage claim by the bank.
Mellat’s lawsuit had initially claimed $4 billion (£3.2 billion) from the treasury, but that figure was later reduced to $1.6 billion plus interest.

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