Osen LLC in the News

“Judge Allows Terror Suits Against Banks to Proceed”
New York Law Journal - April 4, 2016

A federal judge has allowed terrorism victims to proceed with their civil actions against two banks.

On Thursday, Eastern District Judge Dora Irizarry rejected the dismissal motions filed by Crédit Lyonnais and National Westminster Bank in their respective cases.

Plaintiffs said the banks maintained accounts for charities the Department of Treasury in 2005 called "Specially Designated Global Terrorists."

Crédit Lyonnais, headquartered in France, and National Westminster Bank, headquartered in the United Kingdom, have raised defenses including a lack of personal jurisdiction in light of the U.S. Supreme Court's 2014 ruling, Daimler AG v. Bauman, 134 S.Ct. 746.

In Strauss vs Crédit Lyonnais, 06-cv-702, and Weiss v. National Westminster Bank, 05-cv-4622, Irizarry said she had jurisdiction over the banks through New York's long-arm statute, CPLR §302(a)(1), as well as Federal Rule of Civil Procedure 4(k)(1)(C).

Both banks alternately moved for summary judgment, saying plaintiffs failed to show that as of the date of the last transfer, both several years before 2005, the banks acted with the requisite knowledge and proximately caused the injuries. Irizarry rejected the bids.

According to Gary Osen of Osen LLC, one of the plaintiffs' attorneys in the two cases, all plaintiffs were also in a lawsuit against Arab Bank, though the plaintiff set was larger in that case.

Osen was a member of the Arab Bank plaintiff legal team. On the eve of a 2015 damages trial, Arab Bank and the plaintiffs said they were settling.

Lawrence Friedman and Jonathan Blackman, partners at Cleary Gottlieb Steen & Hamilton, represented Crédit Lyonnais and National Westminster Bank.

“Appeals Court Revives Lawsuit Filed by Terror Victims Against UK Bank”
Wall Street Journal - September 22, 2014

As a federal jury debates whether Jordan’s largest bank provided assistance to Hamas, a New York federal appeals court reinstated a lawsuit filed by victims of the group against a UK bank.

The Second U.S. Circuit Court of Appeals ruled Monday that a federal district judge got it wrong when she threw out legal claims by about 200 U.S. victims of Hamas attacks who claimed that National Westminster Bank NWBD.LN +0.96% PLC provided banking services to a London-based charity with alleged ties to the group.

The lawsuit, which the Second Circuit sent back to federal trial court in Brooklyn, was filed under the Antiterrorism Act, a 1990 law that gives victims of international terrorism recourse in U.S. courts.

The ruling came as jurors in the same federal trial court were deliberating similar claims against Arab Bank PLC, which is accused by victims of Hamas attacks of routing compensation from Saudi donors to the families of suicide bombers and provided banking services to Hamas leaders and charities allegedly controlled by the group.

“SEC's effort to track ties to terrorism ruffles feathers”
Investment News - July 23, 2007

Meanwhile, at least one lawyer feels the SEC has not gone far enough in its efforts to inform investors whether their retirement savings are indirectly subsidizing terrorism or genocide. "I am not convinced that the SEC list moved the ball very far," said Gary M. Osen of Osen & Associate LLC in Oradell, N.J. "It is hard to escape the fact that it is a rather limited sample."

“U.S. judge refuses to dismiss terror finance suit vs French bank”
The International Herald Tribune - October 5, 2006

For the second time in a week, a U.S. judge has refused to throw out a lawsuit accusing a European bank of knowingly providing financial services to charities allegedly controlled by a terrorist organization.

“US Victims Sue RBS’ NatWest, Credit Agricole for Supporting Terror Groups”
http://www.forbes.com/finance/feeds/afx/2006/01/06/afx2432850.html - January 6, 2006

Lawyers for the plaintiffs who filed the lawsuits in New York and New Jersey said that the separate lawsuits charge the banks with maintaining accounts for financial supporters of the radical Palestinian group Hamas.