LEBANESE CANADIAN LAUNDERED MONEY FOR "HEZBOLLAH"

SECOND CIRCUIT AFFIRMS DISMISSAL IN ALIEN TORT CASE AGAINST LEBANESE CANADIAN BANK

The Second Circuit Court of Appeals has affirmed the District Court decision, in the case of Licci vs. Lebanese Canadian Bank SAL, in which an action against the bank*, for facilitating financing of Hezbollah, through US banks, pursuant to the Alien Tort Statute, was dismissed, holding that customary international law does not recognize liability for the bank, a corporation, relying upon the ruling in Kiobel vs. Dutch Petroleum Co.,  a 2013 US Supreme Court decision.

Readers who wish to review the complete text of the opinion can access it on the Second Circuit website http://www.ca2.uscourts.gov/decisions.html .The case number is 15-580, and the decision was handed down on August 24, 2016.
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*On the regulatory side, the bank previously paid a $102m fine, for providing financial support to Hezbollah, a Specially Designated Global Terrorist (SDGT) organization.