Legal News

Lawsuit Filed by Iraq Government Dismissed by U.S. Judge
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

A lawsuit from Iraq was dismissed on Wednesday by a United States judge that accused dozens of companies allegedly conspiring with Saddam Hussein and his regime to frustrate the oil-for-food program of the United Nations and keep $10 billion of aid from the Iraqi people, according to Reuters.

In the ruling, U.S. District Judge Sidney Stein said that Iraq’s government could not recover any damages under an anti-racketeering law. The reason for this is that most of the inappropriate conduct took place in foreign countries.

  
What
Where


“The court rejects Iraq’s view that it may sidestep responsibility because the conduct was illegal or the actors held power illegitimately,” he wrote.

The lawsuit was filed in 2008 and it named over 90 companies, affiliates and subsidiaries as defendants. The lawsuit was in regards to the $64.2 billion oil-for-food program, which operated from 1996 to 2003.

Some of the companies named include the following: French bank BNP Paribas SA, which administered a U.N. escrow account for the program; Swiss engineering company ABB Ltd ; Dutch chemicals company Akzo Nobel NV ; U.S. oil company Chevron Corp ; German automaker Daimler AG ; British drugmaker GlaxoSmithKline Plc , and German electronics company Siemens AG.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




“It is clearly the right decision,” said Robert Bennett, a lawyer representing BNP Paribas. “I am enormously pleased.”

The lawyer representing ABB, James Gillespie, said that Judge Stein “followed the arguments in the defendants’ papers very closely, and in our view correctly applied the law.”



The program, created by the United Nations, permitted Iraq to sell oil in order to finance purchases of medicine, food, and other goods for its citizens that were hurt by international trade sanctions placed on the country.

In a report released by former U.S. Federal Reserve Chairman Paul Volcker, Iraq sold $64.2 billion of oil to 248 companies in the program. In return 3,614 companies sold $34.5 billion of goods to Iraq.

Hussein was removed from power in 2003 and then executed in 2006.



 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Corporate, Mergers and Acquisitions and Securities Associate Attorney

USA-NY-New York City

New York City office of our client seeks corporate, mergers and acquisitions and securities associat...

Apply Now

Business Litigation Attorney

USA-CA-Santa Monica

Santa Monica office of our client seeks business litigation attorney with 1-3 years of experience. T...

Apply Now

Intellectual Property Litigation / Enforcement Associate Attorney

USA-CA-San Francisco

San Francisco office of our client seeks intellectual property litigation / enforcement associate at...

Apply Now

Eminent Domain Attorney

USA-TX-Richmond

Richmond office of our client seeks eminent domain attorney with 5+ years of experience. The candida...

Apply Now

RELEVANT JOBS

Hotline & Training Managing Attorney (IMMIGRATION)

USA-NY-New York City

The Hotline & Training Services Managing Attorney will guide, develop, and supervise the Hotline sta...

Apply now

Litigation paralegal

USA-TX-Dallas

We are looking to immediately hire a responsible, highly organized, self-motivated litigation parale...

Apply now

Attorney

USA-TX-Dallas

Associate Attorney – 7 to 10 Years’ Experience - Dallas/Fort Worth   ...

Apply now

Associate Attorney

USA-TX-Dallas

Associate Attorney – 3 to 5 Years’ Experience - Dallas/Fort Worth   ...

Apply now

SEARCH IN ARCHIVE

To Top