According to the solicitor acting for the Iranian bank Bank Mellat, Sarosh Zaiwalla, the UK government needs to honor the supreme court ruling that lifted all sanctions against Iran with regard to trading in the UK. The bank is reportedly asking for as much as £1 billion in damages due to the 5-year trading ban, the Guardian said.
Credit Suisse Group AG the Abu Dhabi Investment Council's arbitration steps to recoup a total of $35 million in funds it loaned to Golomt Bank LLC showed a glimpse of the latter's dubious dealings, which partly repelled foreign investors from making further investments in mineral-rich Mongolia.
A lobbyist group executive said US lawmakers need to debate whether a quick amendment of the existing federal toxic substances law was a solution to avoid accidents like the recent chemical spill at a Charleston, West Virginia water source, which led to the contamination of the water supply of around 300,000 people.
US Bankruptcy Judge Stuart Bernstein approved JPMorgan Chase & Co's to pay $325 million to Bernard Madoff lawsuit trustee Irving Picard and another $218 million to settle two other cases that Picard helped file, Bloomberg said in a report.
