UK court rules in favor of Iran’s Mellat Bank
Baku, Azerbaijan, Oct. 25
By Fatih Karimov - Trend:
The UK Court of Appeal has issued a verdict in favor of Iran's Mellat Bank, allowing the bank to have access to documents and evidence based on which the UK treasury had imposed sanctions against the bank.
Mellat Bank's attorneys said in a statement that the UK administrative court on November 5, 2014 issued a verdict, based on which the bank should be given sufficient information about the allegations against it to enable it to give effective instructions to its special advocates. But the verdict was annulled after the UK Treasury protested it, IRNA news agency reported on October 25.
However, the Court of Appeal rejected the Treasury's complaint on October 23 and referred the case to the administrative court for further investigation on the evidence.
In May, the UK High Court ruled that a trial filed by Mellat Bank against the Treasury should proceed.
The court ruled that the $4-billion damages trial against the British Treasury should go ahead, after it rejected government attempts to delay the hearing.
The Treasury was found to have violated the bank's rights under the European Convention of Human Rights and the Human Rights Act.
In 2009, the Treasury imposed the sanctions according to which British financial institutions were prohibited from transacting business with the Iranian bank over alleged ties to Tehran's nuclear program.