Matter
Citibank v Rasheed Bank (French Court of Cassation F 19-25.404)
French enforcement proceedings involving Citibank and Rasheed Bank addressed attachment of Iraqi bank assets and the effect of Iraqi state immunity.
Procedural record
- 27 September 2000Netherlands
27 September 2000Netherlands
Judgment of the Amsterdam District Court dated 27 September 2000
Amsterdam District Court
- Decision summary
- The Amsterdam District Court ordered Rasheed Bank, an entity of the Iraqi State, to pay Citibank various sums.
Participants
Citibank
Rasheed Bank
Amsterdam District Court
19 years and 20 days later · 6959 days
- 17 October 2019France
17 October 2019France
Judgment of the Paris Court of Appeal dated 17 October 2019
Paris Court of Appeal
- Decision summary
- The Paris Court of Appeal validated the 26 June 2014 conversion of Citibank's conservatory attachment into an attachment of claims, holding that the seized Rasheed Bank assets were intended for non-commercial use and linked to Rasheed Bank.
Participants
Rasheed Bank
Citibank
Paris Court of Appeal
2 years and 17 days later · 748 days
- 3 November 2021France
3 November 2021France
Judgment of the French Court of Cassation, First Civil Chamber, in case F 19-25.404 dated 3 November 2021
French Court of Cassation, First Civil Chamber
- Citation
- French Court of Cassation, First Civil Chamber, judgment No. 656 FS-B of 3 November 2021, appeal No. F 19-25.404
- Decision summary
- The French Court of Cassation rejected Rasheed Bank's appeal and upheld validation of the 26 June 2014 conversion of Citibank's conservatory attachment into an attachment of claims. It held that assets of a foreign State entity may be subject to enforcement when specifically intended for non-commercial use and linked to the entity against which enforcement is pursued; the seized funds, held as a commercial banking cash pledge, met those conditions.
Participants
Rasheed Bank
- Representative
- SCP Fabiani, Luc-Thaler and Pinatel (For: Rasheed Bank)
Citibank
- Representative
- SCP Claire Leduc and Solange Vigand (For: Citibank)
French Court of Cassation, First Civil Chamber
- Judge
- Chauvin
- Judge
- Guihal
- Judge
- Auroy
- Judge
- Hascher
- Judge
- Antoine
- Judge
- Vigneau
- Judge
- Poinseaux
- Judge
- Fulchiron
- Judge
- Dard
- Judge
- Gargoullaud
- Judge
- Azar
- Judge
- Buat-Ménard
- Judge
- Feydeau-Thieffry
- Advocate General
- Caron-Déglise
Other
- Institutional administrator
- Berthomier