By JONATHAN STEMPEL
A U.S. appeals court has said the federal government may prosecute Turkey’s Halkbank on charges it helped Iran evade American sanctions, rejecting the state-owned lender’s argument that it deserved immunity.
In a 3-0 decision, the second U.S. Circuit Court of Appeals found no basis under centuries-old common law principles for foreign state-owned companies to be absolutely immune from U.S. prosecution related to commercial, nongovernmental activities.
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