Fri, May 27, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

RD Legal Capital to bet $100m Iran will pay for Beirut terror attack 30 years ago

Monday, March 24, 2014

Komfie Manalo, Opalesque Asia:

Cresskill, New Jersey-based hedge fund RD Legal Capital is raising $100m to finance a litigation to collect some $1.8bn from the Iranian government over the killing of 241 American servicemen at a Marine barracks in Beirut in an Iranian-backed terror attack 30 years ago, reported The Journal.

RD Legal is confident the Iranian government will eventually pay the amount to victims of one of the deadliest attacks against Americans. In 2007, a U.S. federal court in Washington found Iran liable for the bombing and ordered Tehran to pay $1.8bn to the families of the victim.

But the Iranian central bank appealed the decision. The appeal is still on-going and experts believe it would take years before the families of the victims are paid. Each of the family is entitled to about $8m in compensation for their loss.

Several victims’ families are receptive to RD Legal’s efforts for their case. Seventy-seven year-old Ron Perron, whose 19-year-old son Thomas was killed in the attack, said families voted "overwhelmingly" to support RD Legal’s decision to buy stakes in the judgment.

He told The Journal, "We want to see Iran pay for this, the injustice that they did to our boys. Every time I go to Washington, every year I go to Arlin......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Ares Capital to buy American Capital in $3.4 billion deal[more]

    From PIOnline.com: Ares Management's business development company Ares Capital Corp. is buying troubled BDC American Capital for $3.43 billion, said a joint news release by the BDCs and another release by Ares Management. Ares Capital Corp.'s assets are expected to grow to about $13.2 billion when t

  2. Performance - Hedge fund ETFs take a battering, Have long-short credit funds delivered?[more]

    Hedge fund ETFs take a battering From ETFStrategy.co.uk: It was a blow for the hedge fund world when Hillary Clinton’s son-in-law Marc Mezvinsky announced he would be closing his Greek-focused fund after it plummeted in value by 90%, just two years after it launched. For passive investor

  3. Launches - Man Group and American Beacon launch new emerging debt fund, Nikko AM launches new Japan equity UCITS fund[more]

    Man Group and American Beacon launch new emerging debt fund American Beacon Advisors, an experienced provider of investment advisory services to institutional and retail markets, launched the American Beacon GLG Total Return Fund today. The Fund became effective May 20. The America

  4. Emerging markets hedge funds perform strongly, but capital base erodes[more]

    Komfie Manalo, Opalesque Asia: Latin American Emerging Markets and Russian hedge funds lead industry gains in the first months of 2016, posting strong performances through April as global and EM equity, commodity and currency markets surged in recent weeks following steep losses to begin the year

  5. Americas - Australian banks sending U.S. hedge funds broke, Ryan Puerto Rico ‘rescue’ bill could be windfall for hedge funds[more]

    Australian banks sending U.S. hedge funds broke From SMH.com.au: US hedge funds are not having the best of years. Profits are hard to find, they're underperforming and the punters are losing patience, withdrawing US$15 billion ($20.8 billion) in the March quarter. They're expected to wit