Iran Claims Immunity From $44M Dairy Payout In DC Circ.

Law360, Washington (October 14, 2011, 3:06 PM EDT) -- Iran on Friday tried to dodge a $44 million judgment against it for expropriating McKesson Corp.’s share in an Iranian dairy more than 30 years ago and failing to pay dividends to the company, claiming its sovereign immunity shields it from the decision.

The long-running legal battle, which has reached the court of appeals six times, stems from McKesson's decision in 1960 to join a group of Iranian investors to create Pak Dairy in Iran, according to the suit. In 1979, McKesson personnel fled the country...
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