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August 29, 2013 8:42 am

U.S. Court Dismisses Thousands of Claims Against Arab Bank

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Bank of America Tower. Photo: Jleon.

Daily Star – Jordan’s largest lender, the Arab Bank, announced this week that a New York federal court dismissed more than 90 percent of the claims in a long-running lawsuit accusing it of providing banking services to charities and individuals allegedly affiliated with Palestinian militants. The ruling is the most significant victory yet for the Arab Bank yet in its nine-year legal battle with 6,596 relatives of victims killed or injured in two dozen Palestinian attacks in Israel during the Second Intifada.

Most of the plaintiffs who are not U.S. citizens were seeking hundreds of millions of dollars in damages from one of the Levant’s largest financial institutions under an obscure anti-piracy law passed in 1798, the “Alien Tort Statute,” which allows foreigners to file civil claims against international companies who violate U.S. law in the nation’s federal courts.

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