By Maya Lester KC & Michael O’Kane

Arbitration panel orders compensation over Future Bank closure

The Permanent Court of Arbitration (PCA) is reported to have ordered Bahrain to pay over $270 million to Bank Saderat and Bank Melli, Iranian state-owned banks, in legal fees and damages suffered as a result of the forced closure of Future Bank in 2015 over allegations that it facilitated money laundering and the evasion of US and UN sanctions. See …

IranIran United StatesUnited States United NationsUnited Nations

About Michael O'Kane

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Michael is Senior Partner at Peters & Peters Solicitors LLP. He has acted in many of the most high profile and sensitive business crime cases of the last 25 years, at Peters &...

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