SAROSH ZAIWALLA occasionally serves as an international arbitrator, judging commercial disputes. But he is better known for standing and fighting than for sitting in judgment: Mr Zaiwalla jabs thorns in the sides of Western governments by challenging their international sanctions in court, on behalf of blacklisted companies, banks and individuals. “Sanctions are better than going to war, but it has to be done legally. You can’t just go after any old third party,” he thunders.
The case with which Mr Zaiwalla’s London-based law practice is currently engaged is that of Bank Mellat, of Iran. It was placed on a sanctions list by Britain in 2009 on account of alleged links to Iran’s nuclear programme. The bank challenged this in British courts, and in 2013 the country’s Supreme Court ruled in Mellat’s favour, saying that singling it out had been “irrational” and “disproportionate”. The bank is now seeking £2.3 billion ($4 billion) in damages from Britain’s Treasury for loss of business. Its claim will go to trial next year, if mediation produces no settlement.
Bank Mellat is not alone....
from The Economist: Business http://ift.tt/1fjK3Rc
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