Peterson v. Islamic Republic of Iran

SACK, Circuit Judge:

In this litigation, judgment creditors of the Islamic Republic of Iran (“Iran”) attempt to execute on $1.68 billion in bond proceeds allegedly owned by Iran’s central bank. The Supreme Court has instructed that in an execution proceeding concerning a foreign sovereign’s assets, any defense predicated on foreign sovereign immunity must rise or fall on the text of the Foreign Sovereign Immunities Act (“FSIA”), 28 U.S.C. §§ 1330, 1602 et seq. See Republic of Argentina v. NML Capital, Ltd., — U.S. -, 134 S.Ct. 2250, 2256, 189 L.Ed.2d 234 (2014). In the same decision, the Court…