US court will listen to Halkbank | General News

The US Supreme Court agreed to hear the bank’s objection after the allegations against Halkbank. On September 28, nine judges of the US Supreme Court evaluated the appeal and decided to hold a hearing to hear Halkbank’s application. After the decision, a sharp rise was seen in the banking index.

The U.S. Supreme Court has agreed to hear Halkbank’s appeal in the Federal Court for the Southern District of New York against charges of money laundering, bank fraud, and conspiracy to help Iran evade economic sanctions. Halkbank’s lawyers, whose application to the 2nd District Court of Appeal was rejected before, filed an appeal in July. On September 28, nine judges of the US Supreme Court evaluated the appeal and decided to hold a hearing to hear Halkbank’s application. In Halkbank’s application, it was argued that the criminal case against the Turkish state-owned bank was exempt from US prosecution under the Foreign Sovereign Immunities Act of 1976, which limited the jurisdiction of US courts. The 2nd Court of Appeals, which previously rejected this defense, decided that Halkbank could not benefit from this law because its activities fell within the scope of commercial and profit purposes.

Halkbank appealed against these accusations in the local courts based on the Foreign State Immunity Act in the USA.

HOW WILL THE PROCESS WORK?

The United States also agreed to listen to the bank’s statements under this law. While it is stated that it may take a long time for the said application to be concluded; The process of listening is expected to be clarified in the coming months. The US Supreme Court convened under the chairmanship of John Roberts on September 28 and examined nearly a thousand applications, including Halkbank’s appeal.

RISE IN THE BANKING INDEX

Following the HALKBANK news, the daily rise in the BIST banking index approached 10 percent. Public banks Halkbank and Vakıfbank became the ceiling. BIST 100 closed the day with an increase of 6.67 percent and 3,392 points. Borsa İstanbul, which started the first opening day of the week with an increase in value exceeding 4%, had a rise above the European indices. In the closing, the rise of Borsa Istanbul was supported by the banking index, transportation and telecommunication indices.


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Source: bigpara- GÜNDEM by bigpara.hurriyet.com.tr.

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