Friday, October 31, 2008

Libya Pays $1.5 Billion for Compensation of Victims of Pan Am 103 Terror Attack

Article on cnn.com -- Libya pays $1.5 billion to settle terrorism claims.  Here's an excerpt:

The United States has received $1.5 billion from Libya as payment for victims of terrorist attacks, Secretary of State Condoleezza Rice told Congress on Friday.

"These funds are sufficient to provide the required compensation to victims of terrorism under the Libyan Claims Resolution Act," the State Department said in a statement.

"The administration will now move expeditiously to arrange for distribution of these funds in lieu of the pending U.S. court cases against Libya."

Washington had promised to normalize relations with Libya to reward it for abandoning its weapons of mass destruction program and for taking responsibility for the downing of Pan Am 103 and other terror attacks against Americans.

BGS

http://lawprofessors.typepad.com/mass_tort_litigation/2008/10/libya-pays-15-b.html

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