Turkiye's Halkbank To File Petition With US Supreme Court

Turkish state-run lender Halkbank plans to file a petition with the US Supreme Court on a recent decision on the Foreign Sovereign Immunities Act, according to an official statement on Monday.

"The proceedings in the District Court will be stayed until the process at the Supreme Court is completed," according to a statement sent to Turkiye's Public Disclosure Platform (KAP).

Noting that the lender's appeal on its ongoing criminal case in the US was denied by the court on Dec. 15, 2021, the bank said: "As the Bank, will appeal to a higher court concerning the denial of the Second Circuit of the mentioned appeal of the Bank, the Bank's motion to stay the return of the case to the District Court was granted by the Second Circuit on Jan. 14, 2022."

In July 2019, Hakan Atilla, 48, the former deputy director-general of the Turkish state lender, was released from a federal US prison. He was sentenced in May 2018 in New York for violating U.S. sanctions on Iran. -