Word: iranian
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Dates: during 1980-1989
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...YORK--Columbia University has sued the government of Iran to recover $91,000 in tuition that the university extended to Iranian engineering students who lost scholarships after the Islamic revolution two years ago, university officials said last week...
Details of the suit were unavailable, but The Columbia Daily Spectator reported that the university's suit is one of about 90 claims on Iranian assets by U.S. corporations and institutions since the Shah fell...
...real stumbling block in settling the Iranian assets issue will be the claims brought by companies and individuals who were owed money for work they once did in Iran, or who have been the victims of expropriation since the revolution. The latest of these claimants is Xerox, which last week asked a federal court for a lien of $85 million against the frozen assets. Xerox is seeking to receive payment for Rank Xerox Iran, a company that it owns jointly with Britain's Rank Organization. Iran's Bonyad-e Mostasafin, a foundation set up by the Iranian government...
There are more than 270 separate legal actions like the Xerox one, and the claims total about $6 billion. In September, Federal Judge Kevin Duffy confirmed the attachment of assets amounting to about $3 billion. This means that $3 billion in Iranian assets cannot be removed from U.S. banks until the legal claims on them are resolved by American courts: This could take decades. Indeed, cases of U.S. claims against Cuban expropriation of American assets after Fidel Castro came to power in 1959 are still awaiting settlement...
Administration officials say that it is likely the President would commit the U.S. to return all the Iranian assets, but he would leave the precise method for doing so to be determined later. The Iranians, who find themselves increasingly isolated in the world community and short of money to fight an expensive war, are apt to go along with a compromise. Whatever the immediate solution, the real winners may be the lawyers, who are likely to earn their own fortunes fighting court battles over the Iranian funds...