Iran Terror Victims Win at U.S. Supreme Court, Can Collect $2 Billion

American victims of terrorism can collect $2 billion from Iran’s central bank after the U.S. Supreme Court upheld a federal law aimed at helping them win their case.

The 6-2 ruling is a victory for about 1,300 people battling Iran’s Bank Markazi. The group includes victims of the 1983 Beirut Marine barracks bombing and the 1996 bombing of Khobar Towers in Saudi Arabia, as well as family members.

The victims were trying to collect legal judgments they won when Iran didn’t defend itself against accusations that it was responsible for the bombings. The group targeted Iranian assets that were originally held in a Citigroup Inc. account in New York and then transferred into a trust account to await the outcome of the litigation.

"We are extremely pleased with the Supreme Court’s decision, which will bring long-overdue relief to more than 1,000 victims of Iranian terrorism and their families, many of whom have waited decades for redress," said Theodore Olson, the Washington lawyer who argued the case at the Supreme Court for the victims.

Bank Markazi’s Supreme Court lawyer, Jeff Lamken, didn’t respond to requests for comment.

The issue for the Supreme Court was whether Congress overstepped its authority by passing a 2012 law that said the assets could be seized to pay the judgments.

http://www.bloomberg.com/politics/articles/2016-04-20/iran-terror-victims-win-at-u-s-high-court-can-collect-2-bln