Barclays Seeks Return Of $4.8M For Libyan Boat Crash

Law360, Los Angeles (August 15, 2013, 10:05 PM EDT) -- Barclays Bank PLC on Wednesday filed a suit in New York seeking the return of a $4.8 million payment it attempted to send the Libyan government in 1990 that was blocked by American Express Bank Ltd. because of sanctions against that country at the time. 

The complaint accuses AMEX's successor-in-interest, Standard Chartered International (USA) Ltd., of unlawfully holding the $4.8 million, which Barclays attempted to route to the Libyan government in 1990 to cover losses from the wreck of a Libyan-owned oil tanker off the coast...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Barclays Bank PLC v. Standard Chartered International (USA) Ltd.


Case Number

1:13-cv-05672

Court

New York Southern

Nature of Suit

Banks and Banking

Judge

Laura Taylor Swain

Date Filed

August 13, 2013

Law Firms

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.