Thu, Sep 18, 2014
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. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Investors looking at other sources for hedge fund-like returns[more]

    Komfie Manalo, Opalesque Asia: Investors who are always on the lookout for higher gains are looking at alternative sources of income, particularly exchange-traded fund industry that generates hedge fund-like returns, according to

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Opalesque Exclusive: Old Hill Partners launches specialty finance fund[more]

    Bailey McCann, Opalesque New York: Asset-backed lending is starting to heat up again after a prolonged credit squeeze. The Financial Times reports that a record £18.9bn was borrowed from asset-based lenders in the three months to the end of June. Much of this lending is driven by advanc