Hezbollah Victims May Bring Claims in N.Y., Court Rules

www.businessweek.com - 20 November 2012 - From Chris Dolmetsch

A Lebanese bank can face claims in New York of negligence and breach of duty in a lawsuit brought by U.S., Israeli and Canadian victims of Hezbollah rocket attacks and their families, the state’s highest court ruled.

The victims sued American Express Bank Ltd. and Lebanese Canadian Bank in 2008, saying the banks helped the terrorist group attack targets in northern Israel in July and August 2006 by handling wire transfers of millions of U.S. dollars. The Lebanese bank, based in Beirut, merged with Societe Generale Lebanon last year. (continue reading...)