Bank Refah Kargaran Case

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Bank refah kargaran case.

Judgment of the court grand chamber of 6 october 2020. Each party shall bear its own costs of the arbitration. The claim of blount brothers corporation against the islamic republic of iran bank tejarat bank saderat and bank refah kargaran is dismissed. Opinion of advocate general.

Appeal common foreign and security policy cfsp article 29 teu article 215 tfeu restrictive measures taken against the islamic republic of iran harm allegedly suffered by the appellant as a result of its name being included and maintained on the list of persons and. In this case bank refah kargaran had already successfully obtained the annulment of restrictive measures against it taken on the basis of council decisions 2010 664 and 2011 783 as well as the subsequent council regulations 961 2010 and 1245 2011 for failure to state reasons judgment in case t 24 11. Bank refah kargaran v council of the european union. Note that the bank was then subjected to sanctions on the basis of a new decision and its legal challenge to that later decision was unsuccessful.

The european court of justice ruled that bank refah kargaran is not entitled to compensation over losses that it said it suffered when its funds were frozen in connection with sanctions imposed by. Appeal brought on 18 february 2019 by bank refah kargaran against the judgment delivered on 10 december 2018 in case t 552 15 bank refah kargaran v council oj c 172 20 5 2019 p. Council of the european union appeal action for damages restrictive measures taken against iran article 29 teu article 215 tfeu jurisdiction of the court to hear an action seeking compensation compensation for the damage allegedly suffered by the applicant as a.