The Supreme Court is seen in Washington on February 21, 2023. A federal judge in New York ordered Iran's central bank and European intermediary to pay out $1.68 billion to family members of troops killed in the 1983 car bombing of US Marine Corps barracks in Lebanon.
US District Judge Loretta Preska said that in the year 2019 Bank Markazi, the Iranian central bank, was stripped of immunity from the lawsuit, which tried to enforce a judgment against Iran for providing material support to the attackers.
The lawsuit also names Luxembourg-based Clearstream Banking SA, which is holding the assets in a client account. Clearstream parent company, Deutsche Boerse AG, said on Wednesday it is considering appealing against the decision.
Clearstream will weigh all relevant interests and responsibilities and comply with its legal and regulatory obligations in handling the funds, Deutsche Boerse said.
The exchange said it does not view the ruling as increasing the risk from the lawsuit in a way that would require the companies to make financial provisions.
Attorneys for the parties didn't respond immediately to requests for comment.
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On 23 October 1983, a bombing at the Marine Corps barracks killed 241 US service members.
Victims and their families won a $2.65 billion judgment against Iran in federal court in 2007 over the attack.
Six years later, they tried to seize bond proceeds that were allegedly owned by Bank Markazi and processed by Clearstream to satisfy the court judgment.
Bank Markazi argued that the lawsuit was not allowed under the Foreign Sovereign Immunities Act, which protects foreign governments from liability in US courts.
In January 2020, the US Supreme Court overturned a lower court ruling in favor of the families and ordered the case to be reconsidered in light of the new law, which was adopted a month earlier as part of the National Defense Authorization Act.
Preska said the law allows US courts to allow the seizure of assets held outside the country to satisfy judgments against Iran in terrorism cases, despite other laws such as FSIA that would grant immunity.
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In 2021, a Luxembourg court ordered Clearstream not to move the funds until a court in that country recognizes the US ruling. Clearstream appealed that decision.
The case is Peterson et al v. Islamic Republic of Iran et al, US District Court, Southern District of New York, No 13 -- 09195.