Iran General NewsIran ordered to pay $40m for taking share of...

Iran ordered to pay $40m for taking share of dairy

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AP: A federal judge has ordered Iran to pay $40.55 million for confiscating an American company’s share in an Iranian dairy. The Associated Press

By By FREDERIC J. FROMMER

WASHINGTON (AP) — A federal judge has ordered Iran to pay $40.55 million for confiscating an American company’s share in an Iranian dairy.

In a ruling Wednesday, U.S. District Court Judge Richard J. Leon awarded McKesson Corp. $29.3 million in damages and interest for expropriated equity and dividends — and $11.2 million in attorney’s fees and other costs.

It’s unclear whether Iran will pay. A Washington lawyer representing the country said Iran is reviewing the decision and considering whether to appeal.

The case has dragged on for three decades.

In 1996, the Supreme Court turned down Iran’s argument that it should be immune from the lawsuit because its actions had no direct effect in the United States.

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