US Court of Appeals vacates District Court Order to reduce amount of attachment of Lebanese IBL Bank’s assets

In a decision rendered on 5 August 2022 in the Iraq Telecom Limited v. IBL Bank S.A.L case, the United States Court of Appeals for the Second Circuit vacated an order issued by the District Court for the Southern District of New York on the basis that the District Court had abused its discretion to weigh extraordinary, non-statutory circumstances for attaching assets.