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Bank Markazi v. Peterson | 578 U.S. 212, 136 S. Ct. 1310 (2016)
In Bank Markazi versus Peterson, we’ll see whether Congress could apply an amended law to a pending case, even if the law would determine the outcome of the case.
Under the terrorism exception to the Foreign Sovereign Immunities Act, American nationals may sue state sponsors of terrorism in United States courts. To help victims recover damages, Congress enacted a law that allowed damages to be paid from a terrorist party’s blocked assets, which include assets that can be seized by the president under Congress’s authority.
Over one thousand victims of Iranian-sponsored terrorist attacks, including Deborah Peterson, a victim’s relative, filed suit against Iran in Peterson versus Islamic Republic of Iran. In two thousand three, the district court entered a default judgment against Iran for over two billion dollars in damages. Peterson and the other plaintiffs initiated enforcement proceedings to recover damages from one point seven five billion dollars of Iranian assets that were held by a New York bank for the Central Bank of Iran, known as Bank Markazi. In twenty twelve, an executive order blocked Iranian government bank assets in the United States. Congress then amended the Iran Threat Reduction and Syria Human Rights Act, codified as Twenty-Two U S C Section Eight Seven Seven Two. The amendment specifically held that the Bank Markazi assets identified in Peterson could be used to satisfy judgments awarded against Iran under the terrorism exception.
The Peterson plaintiffs updated their motions to include claims for damages under Section Eight Seven Seven Two. The district court ordered the turnover of the Bank Markazi assets. Bank Markazi appealed and argued that Section Eight Seven Seven Two violated the separation of powers because Congress compelled the judicial branch to reach a predetermined result. The court of appeals affirmed. Bank Markazi appealed. The United States Supreme Court granted cert.
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