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CHASE MANHATTAN BANK v. STATE OF IRAN

No. 79 Civ. 6644.

484 F.Supp. 832 (1980)

The CHASE MANHATTAN BANK, N. A. v. The STATE OF IRAN, also known as Islamic Republic of Iran, Bank Markazi Iran, et al.

United States District Court, S. D. New York.

February 15, 1980.

Attorney(s) appearing for the Case

Milbank, Tweed, Hadley & McCloy by Edward J. Reilly, Richard Tufaro, New York City, for plaintiff.

Rabinowitz, Boudin, Standard, Krinsky & Lieberman by Leonard Boudin, Eric M. Lieberman, New York City, for Bank Markazi.

OPINION

GRIESA, District Judge.

Plaintiff Chase Manhattan Bank has moved for a preliminary injunction, which would restrain defendant Bank Markazi from further prosecution of an action brought by Bank Markazi against Chase in England. The motion is denied.

Bank Markazi is the central bank of Iran. For many years it has been a customer of Chase. As of November 1979, the critical time for purposes of the present action, Bank Markazi had three types...

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