Arab Bank settles over terror finance damagesSeptember 7, 2015
Jordan-based Arab Bank PLC has settled on an amount to pay in damages to the families of terror victims. The bank was found liable in 2014 for helping process transactions for Hamas that facilitated terrorist attacks. The amount of the settlement wasn’t disclosed, but Arab Bank previously offered $12 million in a deal rejected by the judge.
From The New York Times last month (h/t El Grillo):
Arab Bank Reaches Settlement in Suit Accusing It of Financing Terrorism
Three days before a first-of-its-kind damages trial was supposed to start, a Middle Eastern bank has reached a settlement with hundreds of American plaintiffs, including victims of terrorist attacks around Israel, who had filed a lawsuit against the bank accusing it of supporting terrorism.
A spokesman for the bank, Arab Bank, and a spokeswoman for one of the law firms representing the plaintiffs confirmed on Friday that an agreement had been reached but declined to offer additional details, including the amount of the settlement.
The second phase of the trial, assessing the damages Arab Bank would have to pay to some victims of attacks by Hamas, was scheduled to start on Monday.
All of the plaintiffs are American victims of Hamas attacks or relatives of people who were killed…