Clearstream Stalls $1.7 Billion Beirut Bombing Victims Judgment

Victims of the 1983 bombing of the US Marine barracks in Beirut, Lebanon, are headed back to a federal district court to show that they are entitled to collect $1.7 billion dollars held by Clearstream Banking in Luxembourg.

The district court previously granted the victims summary judgment on their claim to the money, but the lower court erred by not applying New York law to determine ownership of the funds, said Judge Robert D. Sack in an opinion Wednesday for the US Court of Appeals for the Second Circuit.

Bank Markazi is the Central Bank of Iran and it held ...