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Iran Seeks $4.9b in Luxembourg Lawsuit

Iran Seeks $4.9b in Luxembourg Lawsuit Iran Seeks $4.9b in Luxembourg Lawsuit

Iran’s central bank has filed a suit in Luxembourg against Deutsche Boerse’s Clearstream unit seeking to recover $4.9 billion in assets plus interest, the German stock exchange operator said on Thursday. The assets, frozen on suspicion of terror financing, include $1.9 billion turned over to plaintiffs in the United States following a 2013 court order as well as $2 billion that is subject to further litigation by US plaintiffs in the United States and Luxembourg, Reuters reported. “Clearstream believes the complaint against it to be without merit,” Deutsche Boerse said in a statement. “Clearstream will take all necessary and appropriate measures to vigorously contest the claims.” Iran’s efforts to recover the funds have been going on for some years. In 2016, Deutsche Boerse disclosed that it was named in a US case filed by Iran seeking the funds.

 

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