The Supreme Court yesterday granted certiorari in a case raising the question of whether Congress’ passage of a law pertaining to the seizure of Iranian assets violated separation-of-powers principles by effectively directing a particular result in a single Southern District case.  Judge Forrest cited the law in ordering the seizure of $1.75 billion in Iranian

In an opinion unsealed today, Judge Forrest granted partial summary judgment allowing a group of plaintiffs with billions in judgments against Iran to collect on $1.75 billion of cash being held by Citibank in New York on behalf of Clearstream, a European firm in the business of clearing and settling securities transactions. Judge Forrest concluded that a law that went into effect in August 2012, the Iran Threat Reduction and Syria Human Rights Act of 2012, was intended to hold Iran accountable for judgments against it and largely “swept aside” the numerous grounds that the defendants raised to oppose the motion:
Continue Reading Judge Forrest Allows Judgment Creditors Access to $1.75 Billion in Iranian Cash Held At Citibank