By Maya Lester KC & Michael O’Kane

OFAC issues South Korea specific licence to pay Iran award

The South Korean government confirmed on Wednesday (12 January 2022) that it has been granted a specific licence by OFAC to execute an arbitral award to Iran’s Dayyani family using the US financial system. The Dayyanis, major shareholders of Iranian home appliance company Entekhab, filed an investor-state dispute settlement (ISDS) complaint against the South Korean government in 2015 over a …

IranIran United StatesUnited States

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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