Victims of 1983 Beirut bombing drop Standard Chartered lawsuit

By Nate Raymond

NEW YORK (Reuters) - The estates of victims of the 1983 bombing of U.S. Marine barracks in Beirut have dropped a lawsuit against Standard Chartered Plc (STAN.L) that accused the bank of concealing Iranian transactions that could have satisfied a $2.67 billion judgment.

The dismissal was disclosed in a court filing in U.S. District Court in Manhattan on Wednesday.

The plaintiffs, who include representatives of the estates of 241 U.S. servicemen killed in the attack, had obtained a $2.67 billion default judgment against Iran in 2007 and have sought to enforce it through various lawsuits. In the Standard Chartered case, the plaintiffs contended the British bank had interfered with collecting on the judgment.

The case was filed in August as a scandal brewed over allegations that Standard Chartered was involved in concealing Iran transactions that New York State's financial regulator said totaled $250 billion. The bank settled with that agency for $340 million.

Earlier this week, the U.S. Justice Department and New York District Attorney's office announced that Standard Chartered agreed to pay an additional $327 million to resolve allegations it violated U.S. sanctions against countries including Iran and Sudan.

A pre-trial hearing in the Beirut case had been scheduled for Friday. The lawsuit is being dismissed without prejudice, meaning the plaintiffs can refile it at a later date.

Liviu Vogel, a lawyer for the bombing victims, declined to say why the lawsuit was dropped or if the plaintiffs would file new claims.

Julie Gibson, a spokeswoman for Standard Chartered, said the case had not been settled and had no further comment.

The case is Deborah Peterson et al v Standard Chartered Bank in U.S. District Court in the Southern District of New York No. 12-6257.

(Reporting By Nate Raymond in New York; Editing by Martha Graybow)


Act of Cowardice

Iran's ruling tyrants have executed yet another political prisoner in flagrant violation of international law.  READ MORE

The rush to Tehran amidst rise in executions

World leaders should halt these visits and link any deal with Iran to its human rights record.  READ MORE

Arming a dictator

What if President Obama ordered the sale of arms to Syrian dictator to massacre his opponents? READ MORE

Slaughter intensifies under Rouhani

231 executions have occurred since the presidential election in June which brought to power Hassan Rouhani. READ MORE

Silence is not the answer

Iran: Bloody crackdown targeting dissidents aims at terrorizing the people into submission. READ MORE

Iran’s Murder Machine

The wheels of Iran's Murder Machine turn in tandem with its nuclear machine. READ MORE

What now?

The West must drop the dangerous pretence that talking to a regime not interested in listening constitutes the winning strategy. READ MORE

A facelift

This cosmetic facelift should not dupe the West into thinking that there are fresh prospects for a nuclear deal. READ MORE

An Act of Cowardice

The terrorist attack against Iranian exiles at Camp Liberty, Iraq, is another sign of Iranian regime's weakness. READ MORE

Much atalk about nothing

In Istanbul they merely agreed to talk about talking later in May in Baghdad, of all places. READ MORE

An unholy alliance

The brutal state-imposed bloodbath in Syria deserves uncompromising reproach. READ MORE

Iran cries for freedom

The clerical regime in Iran has predictably unleashed another wave of terror against the citizenry since the outburst of the latest string of mass protests beginning on 14 February. READ MORE

A new Iran policy

The latest round of nuclear talks had an all-too-familiar result: more time for Tehran and less time for the international community to prevent a nuclear-armed theocracy. READ MORE

Murder overlooked

What would the rest of us do if a mad gunman was in our midst, systematically murdering our fellow human beings in front of our eyes? The responsible amongst us would not look the other way, because that would serve as a source of encouragement for the murderers to carry on with their heinous acts unchecked. READ MORE

Standing up to Iran's executioners

The Iranian regime's malicious noose has yet again taken an innocent life. Political prisoner Ali Saremi, 63, was hanged in Tehran's infamous Evin prison after a lifetime of peacefully espousing human rights and democracy. READ MORE