US verdict allowing seizure of Alavi Foundation Tower overturned
Tehran, Aug 10, IRNA -- A jury verdict allowing the US government to seize a midtown Manhattan office tower that it said was effectively controlled by Iran was thrown out on Friday by a federal appeals court, which cited several errors by the trial judge.
Jurors had found in June 2017 that the nonprofit Alavi Foundation, which had a 60% stake in the partnership that owned the building, violated US sanctions imposed against Iran in 1995 because it knew that the 40% owner, Assa Corp, was a front for an Iranian state-owned lender, Bank Melli.