Tue, Aug 4, 2015
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. Other Voices: Same day reporting and the evolving role of fund administrators[more]

    By: Scott Price, Head of Business Development and Client Management for North America, Maitland Ernst & Young’s latest glob

  2. Activist News - Celgene says patent-fighting hedge fund manager wants to short its shares[more]

    From Reuters.com: Celgene Corp, one of the world's largest biotechnology companies, has accused U.S. hedge fund manager Kyle Bass of attempting to profit from his attempts to wipe out several major drug patents through his Coalition for Affordable Drugs. The company asked the U.S. Patent and T

  3. Einhorn's Greenlight Capital hedge fund slumps 6.1 percent in July[more]

    From Reuters/Thefiscaltimes.com: Hedge fund mogul David Einhorn's Greenlight Capital slumped 6.1 percent in July and is now down 9 percent for the year after gold, one of the fund's top holdings, tumbled to five-year lows last week. Greenlight notified clients of its returns late on Friday, ac

  4. Cowen Group, Inc. to acquire Conifer Securities[more]

    Cowen Group, Inc. and Conifer Securities, LLC had announced the signing of a definitive agreement under which Cowen will acquire Conifer Securities, the prime services division of Conifer Financial Services LLC. The transaction, the terms of which have not yet been disclosed, was approved by the boa

  5. Cargill’s Black River Asset to shut down four hedge funds[more]

    Komfie Manalo, Opalesque Asia: Cargill Inc.’s $7.4 billion Black River Asset Management said it was closing four hedge funds with a combined $ 1 billion in assets and start returning investors money over the next several months, various media said. The hedge funds represent 15% of Black River’

 

banner