UK commercial court grants summary judgment to Melli Bank Plc

Melli Bank Plc applied to the High Court in London for summary judgment for sums owed to it by a customer (Holbud Limited). The customer had refused to pay the Bank sums due under a Facility Agreement on the grounds that Melli Bank Plc had been listed on the European Union’s restrictive measures against Iran in 2008. Holbud argued that the...