Iran Bank Says $1.7B Is Out Of Bombing Victims' Reach

Law360, Washington (September 1, 2015, 5:46 PM EDT) -- Iran's central bank asked the Second Circuit on Monday to uphold a ruling that families of victims of the 1983 bombing of a U.S. Marine Corps barracks in Beirut can't collect $1.68 billion from it, saying the money is out of reach in Luxembourg.

The families of the 241 soldiers killed in the attack won a $2.65 billion default judgment in a separate suit against Iran in 2007 for providing material support to Hezbollah, the terrorist group that carried out the attack. The Second Circuit said last year that they could collect $1.75 billion from Iran that was discovered in a...

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