The headquarters of the central bank in Beirut. (Credit: Mohammad Yassin/L'Orient Today)
BEIRUT — The U.S. Federal Court for the District of New Jersey dismissed a class-action lawsuit filed on Apr. 16, 2024, by American Lebanese depositors against Banque du Liban (BDL) and several Lebanese banks, BDL said in a statement on Thursday.The proceedings were initially launched by plaintiff Karim P. Najjar, joined in July 2024 by other depositors who were illegally denied access to their deposits in Lebanese banks after the 2019 economic crisis caused the financial system to collapse.According to BDL, the plaintiffs accused the central bank of inducing them to dollar deposits in Lebanese banks by providing “misleading assurances regarding the safety of funds and access to them.” In the news Toward a new showdown between BDL and Finance Ministry over the ‘fiscal dollar’ BDL said Thursday that Judge Christine P. O’Hearn...
BEIRUT — The U.S. Federal Court for the District of New Jersey dismissed a class-action lawsuit filed on Apr. 16, 2024, by American Lebanese depositors against Banque du Liban (BDL) and several Lebanese banks, BDL said in a statement on Thursday.The proceedings were initially launched by plaintiff Karim P. Najjar, joined in July 2024 by other depositors who were illegally denied access to their deposits in Lebanese banks after the 2019 economic crisis caused the financial system to collapse.According to BDL, the plaintiffs accused the central bank of inducing them to dollar deposits in Lebanese banks by providing “misleading assurances regarding the safety of funds and access to them.” In the news Toward a new showdown between BDL and Finance Ministry over the ‘fiscal dollar’ BDL said Thursday that Judge Christine P....