{"id":3416,"date":"2022-05-21T07:35:35","date_gmt":"2022-05-21T07:35:35","guid":{"rendered":"https:\/\/momstime.org\/en\/?p=3416"},"modified":"2022-05-21T07:35:35","modified_gmt":"2022-05-21T07:35:35","slug":"255-uk-gov-t-settles-1-6-billion-dispute-with-bank-mellat","status":"publish","type":"post","link":"https:\/\/karimilawfirm.com\/en\/news-en\/255-uk-gov-t-settles-1-6-billion-dispute-with-bank-mellat\/","title":{"rendered":"UK GOV\u2019T SETTLES $1.6 BILLION DISPUTE WITH BANK MELLAT"},"content":{"rendered":"<p dir=\"ltr\">The British government has settled a 1.25 billion pounds ($1.6 billion) damages claim brought by Iran\u2019s largest private bank in an 11th-hour, out-of-court deal following a dispute over sanctions.<\/p>\n<p dir=\"ltr\">Bank Mellat, which is 20% owned by the Iranian government and 80% privately held, said on Tuesday the legal row had been resolved for an undisclosed sum on the first day of a trial to assess its damages at London\u2019s High Court.<\/p>\n<p dir=\"ltr\">That comes six years after the UK Supreme Court ruled that sanctions imposed on the bank in 2009 were unlawful and that the government had been \u201cirrational\u201d and \u201cdisproportionate\u201d. It referred the case back to the High Court.<\/p>\n<p dir=\"ltr\">Bank Mellat had argued that sanctions had damaged its reputation and goodwill in Britain and internationally, and caused significant loss.<\/p>\n<p dir=\"ltr\">The government\u2019s treasury department issued a brief statement, saying: \u201cBank Mellat\u2019s claims have been concluded on terms confidential to the parties.\u201d<\/p>\n<p dir=\"ltr\">Sarosh Zaiwalla, a lawyer and founder of London-based Zaiwalla &amp; Co, the law firm represented Bank Mellat.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The British government has settled a 1.25 billion pounds ($1.6 billion) damages claim brought by Iran\u2019s largest private bank in an 11th-hour, out-of-court deal following a dispute over sanctions. Bank Mellat, which is 20% owned by the Iranian government and 80% privately held, said on Tuesday the legal row had been resolved for an undisclosed sum on the first day of a trial to assess its damages at London\u2019s High [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":3417,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.7 (Yoast SEO v21.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UK GOV\u2019T SETTLES $1.6 BILLION DISPUTE WITH BANK MELLAT - Karimi law firm<\/title>\n<meta name=\"description\" content=\"UK GOV\u2019T SETTLES $1.6 BILLION DISPUTE WITH BANK MELLAT. 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