Iran ordered to pay for sour milk grab
search
Bilked for milk

Iran ordered to pay for sour milk grab

US judge rules Tehran must pony up $40 million for confiscating American shares of dairy company

Dairy cows in Kibbutz Galgal (photo credit: Miriam Alster/Flash90)
Dairy cows in Kibbutz Galgal (photo credit: Miriam Alster/Flash90)

WASHINGTON (AP) — A US judge has ordered Iran to pay $40.55 million for confiscating an American company’s share in an Iranian dairy.

In a ruling Wednesday, US District Court Judge Richard J. Leon awarded McKesson Corp. $29.3 million in damages and interest for expropriated equity and dividends — and $11.2 million in attorney’s fees and other costs.

It’s unclear whether Iran will pay. A Washington lawyer representing the country said Iran is reviewing the decision and considering whether to appeal.

The case has dragged on for three decades.

In 1996, the Supreme Court turned down Iran’s argument that it should be immune from the lawsuit because its actions had no direct effect in the United States.

read more:
comments