Markets News

U.S. Supreme Court tosses ruling that revived suit against Iran central bank

WASHINGTON, Jan 13 (Reuters) - The U.S. Supreme Court on Monday threw out a lower court ruling that revived a $1.68 billion lawsuit against Iran’s central bank by families of troops killed in the 1983 bombing of the U.S. Marine Corps barracks in Lebanon in light of a new federal law that could help the plaintiffs recover damages.

Though Bank Markazi, as well as banks in Luxembourg and Italy, were contesting the lower court ruling that the families could try to seize Iranian assets held outside the United States, the justices directed a lower court to consider the new law that could give the families access to the funds.

The law, signed by President Donald Trump on Dec. 20 as part of the National Defense Authorization Act, removes hurdles for courts to seize assets held abroad to satisfy U.S. court judgments against Iran.

Reporting by Andrew Chung; Editing by Will Dunham