Sunday, August 30, 2015

Arab Bank Reaches Settlement in Suit Accusing It of Financing Terrorism

New York Times: 

Arab Bank Reaches Settlement in Suit Accusing It of Financing Terrorism

story link:
http://www.nytimes.com/2015/08/15/nyregion/arab-bank-reaches-settlement-in-suit-accusing-it-of-financing-terrorism.html
Three days before a first-of-its-kind damages trial was supposed to start, a Middle Eastern bank has reached a settlement with hundreds of American plaintiffs, including victims of terrorist attacks around Israel, who had filed a lawsuit against the bank accusing it of supporting terrorism.
A spokesman for the bank, Arab Bank, and a spokeswoman for one of the law firms representing the plaintiffs confirmed on Friday that an agreement had been reached but declined to offer additional details, including the amount of the settlement.
Last year, a jury in Federal District Court in Brooklyn found Arab Bank liable for financing terrorism by processing transactions for members of the militant Islamic group Hamas.
First witness, deceased Steve Averbach testifies in a taped  testimony about the bombing of the bus by a suicide bomber, that left him paralyzed  His last line of testimony was" and then he detonated himself"

The second phase of the trial, assessing the damages Arab Bank would have to pay to some victims of attacks by Hamas, was scheduled to start on Monday.


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