“U.S. Hulkbank trial sparks international outrage and diplomatic nightmare”. Last Minute WORLD headlines and events

NEW YORK. It was announced that Halkbank’s appeal hearing will take place in the US Constitutional Court on January 17. A 47-page main statement and five additional motions filed with the Constitutional Court by appellate lawyers argued that a US bank lawsuit could lead to “international outrage and a diplomatic nightmare in the international community.”

The petitions submitted stated that 87 percent of Halkbank’s shares were owned by the Republic of Turkey Wealth Fund and claimed that the bank was immune from prosecution.

Azerbaijan, Qatar and Pakistan have also spoken out in favor of Halkbank in petitions.

The petitions filed with the Constitutional Court through Halkbank’s lawyers also included formal petitions from Azerbaijan, Qatar and Pakistan in which they expressed their opinion that a state-owned bank owned by the Republic of Turkey could not be prosecuted in the US.

Halkbank’s appeal lawyers also included in their appeals to the Constitutional Court the views of the Association of Turkish Banks (TBB), the Union of Turkish Chambers and Commodity Exchanges and the Turkish Red Crescent.

In petitions, in addition to state and public institutions, personally Milan Bocconi, lecturer in international law prof. Roger O’Keeffe, lecturer at Vanderbilt Law School, prof. Ingrid Würth Brank, professor of commercial law at the University of California. Opinions were divided between William S. Dodge and former London Bar President Lord Daniel Brennan that the bank could not be held liable in the US.

Motions filed by lawyers in the Constitutional Court argued that Halkbank was entitled to immunity from punitive damages under US law, and that Halkbank could not be held liable under international law, if held liable, this situation would have an important meaning. international implications. The appeals stressed that the Constitutional Court should accept Halkbank’s appeal and rule in favor of the bank, taking into account such risks.

“Halkbank cannot be held liable in the US”

The motions filed with the court indicated that Halkbank could not be prosecuted in the United States because it was a state institution owned by the Republic of Turkey. While emphasizing the “Independent Foreign State Immunity Act”, previous decisions made by the US Congress regarding the law were also recalled.

In their motions, lawyers for Halkbank praised the U.S. bank’s litigation attempt as “the first attempt of its kind to investigate and litigate.” It has also been argued that if Hulkbank were to be prosecuted in the US, it would have far-reaching negative global repercussions.

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