Halkbank statement regarding the second lawsuit filed in the US

Halkbank has issued a statement regarding the second civil lawsuit filed against the bank in the US.

In the statement made by Halkbank on the Public Disclosure Platform (KAP), it was recalled that all judicial processes for the first civil lawsuit (the Owens case), which was filed against the bank on March 27, 2020, seeking damages, were completed and concluded in favor of Halkbank on January 8, 2024.

Regarding the second civil lawsuit (the Hughes case) filed against Halkbank on July 26, 2023, seeking damages, the statement noted that the US District Court for the Southern District of New York, pursuant to a request by the prosecution, ruled on May 1, 2024, to stay all judicial proceedings in said civil case until the criminal case against the bank is concluded. The statement further noted the following:

''Therefore, the second civil lawsuit (the Hughes case) has been suspended until a final decision is reached in the criminal case against our bank. On the other hand, in the criminal case, our bank's appeal process seeking dismissal of the case on the grounds of sovereign immunity is ongoing. An oral argument hearing was held before the United States Court of Appeals for the Second Circuit on February 28, 2024, but the Second Circuit Court of Appeals has not yet issued a decision on the matter. If the Second Circuit Court of Appeals rules in favor of Halkbank, the case will be dismissed without going to trial; if it rules against us, our bank will exercise its legal rights to appeal.''

News Source: AA