Iraqi Dinar Discussion Board

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Swiss court rejects the transfer of funds to Saddam's Iraq

2008-04-22

Swiss Federal Court rejected in Lausanne confirm, as reported in the Iraqi Ministry of Finance yesterday on the determination of Switzerland

Conversion of 300 million dollars were deposited in a Swiss bank account in the name of a successor Delimy lawyer late Iraqi President Saddam Hussein.
The spokesman said the court that he does not know anything about this resolution. The spokesman pointed to a lack of emphasis in Switzerland on the release of the frozen funds The Federal Court in Lausanne had announced last January that Switzerland is not empowered to consider the validity Security Council resolutions. The Security Council has prepared a list of persons accused of misappropriation of funds during the rule of Iraqi President Saddam Hussein. However, the court found that the right to head the financial affairs of the Iraqi intelligence efforts with the sanctions committee to write his name from the list. He had announced in Baghdad earlier that the Swiss Federal Court ordered the freezing of more than 300 million dollars were deposited in the account counsel Saddam. A statement by the Iraqi Ministry of Finance that''Iraq happened on the rule in his favor by the Swiss Federal Tribunal to an amount equivalent to more than 300 million dollars deposited in the account named successor Delimy Saddam's personal counsel''. He added that the funds above the legal side became king''of Iraq, the Swiss authorities will transfer frozen funds covered by the court's decision to the Iraqi Development Fund (De F of) prior to the date of June 13, 2008 deadline for Dlimi to apply object to the sanctions committee of the Security Council '

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