Iran General NewsDeutsche Boerse outlines terms for Iran settlement

Deutsche Boerse outlines terms for Iran settlement

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Reuters: Deutsche Boerse on Monday approved terms for a settlement to dismiss claims from relatives of American victims of a 1983 bombing of the U.S. Marine Corps barracks in Beirut.
FRANKFURT (Reuters) – Deutsche Boerse on Monday approved terms for a settlement to dismiss claims from relatives of American victims of a 1983 bombing of the U.S. Marine Corps barracks in Beirut.

Through its Clearstream unit, Deutsche Boerse has been embroiled in a legal dispute with U.S. plaintiffs seeking damages from Iran for its suspected role in helping Hezbollah carry out the barracks attack during the civil war in Lebanon.

As part of this action, U.S. plaintiffs sought in 2008 to freeze Iranian funds held in Luxembourg-based Clearstream’s securities account.

The settlement which needs the approval of a certain amount of plaintiffs, provides for the dismissal of direct claims against Clearstream, Deutsche Boerse said on Monday.

The U.S. amended a sanctions bill against Iran in August 2012 which opened the door to further damages claims against foreign lenders including Clearstream. (Reporting by Edward Taylor)

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