Halkbank's appeal hearing held in New York

The hearing at the Second Circuit Court of Appeals, where Judge Jose Cabranes joined via video conference, was attended by fellow judges Amalya Kearse and Joseph Bianco, as well as attorneys from the U.S. Attorney's Office for the Southern District of New York and Halkbank's legal team.

The parties were given time to present their arguments and defenses orally to the court. While the prosecution stated that Halkbank does not have judicial immunity under the FSIA, the bank's lawyers emphasized that Halkbank's operations took place in Turkey and that, under common law, charges should not be brought against a company owned by a foreign state.

DECISION TO BE ANNOUNCED AT A LATER DATE

The parties also responded to questions regarding their claims and defenses. The court panel announced that the decision would be released at a later date.

The Supreme Court, the final judicial authority in the U.S., ruled in April of last year that the "Foreign Sovereign Immunities Act" could not be applied to criminal cases, but requested that the Second Circuit Court of Appeals re-examine Halkbank's appeal based on common law.

If the Second Circuit Court of Appeals accepts Halkbank's appeal, the case will be closed. If the court rules against Halkbank, the bank's trial will continue in the U.S. District Court for the Southern District of New York.