Word: courtly
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Dates: during 1970-1979
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West German bankers have been particularly angry. Morgan Guaranty, one of Chase's U.S. partners in the defaulted $500 million loan, went into a German court and attached Iran's 25% investment in two big German companies, Friedrich Krupp and Deutsche Babcock. Last Tuesday, a day after a terrorist bomb exploded outside the bank's Frankfurt office, Morgan obtained a second court lien on the same assets to cover yet a further Iranian debt. The German bankers had thought they would have first call on these assets if Iran failed to pay some of its German loans...
...court battles were fought every where, by all sides. In Paris, Iran's Bank Markazi sued the French subsidiary of Citibank to release $50 million in depos its frozen since Carter's order. In London, Bank Markazi sued for the release of $1.8 billion on deposit with the Bank of America there...
...also became known that the assets seizures began earlier than many had supposed. Several weeks ago, a French court had quietly frozen Iran's $1 billion stake in Eurodif, the large multinational uranium enrichment project in Western Europe, after Iranian leaders failed to meet routine payments. The move served notice on Iran's new leaders that no foreign investments were safe from seizure...
...signed the consent decree at least partly to avoid long litigation and a public relations black eye. Still hanging over the company are more DOE claims of at least $160 million for other alleged instances of overpricing oil and natural gas. This time Getty appears ready to go to court because executives are convinced they can prove to a judge that DOE is engaged in retroactive rule making...
Alone among public institutions, the U.S. Supreme Court has remained an Olympian myth: nine sages in black robes, unelected, unreviewable, pronouncing the last word on the law. Throughout its 190-year existence, the court's decision-making process has enjoyed a special immunity from public scrutiny. Even during the '70s, in the post-Watergate era of full disclosure, its white marble temple stood as a sanctuary, its inner workings Washington's last well-kept secret...