U.S. court ruling lifts freeze on Palestinian bank authority funds

[Eugene]

Source: Reuters

Last update - 18:19 07/04/2007
U.S. court ruling lifts freeze on Palestinian bank authority funds
By Reuters

A New York court has ordered e30 million in Palestine Monetary Authority funds
unfrozen and allowed it to resume operations in the United States after a court
fight stemming from a 1996 Hamas attack.

At a press conference in the West Bank city of Ramallah, the Authority said on
Saturday an April 2 ruling by the Supreme Court of the State of New York cleared
the way for it to carry out functions as the Palestinian central bank.

It had been unable to access the funds or carry out U.S. dollar transactions since
2005 because of a years-old court case brought by the family of Yaron Ungar, an
American who was killed along with his wife in the 1996 shooting in Israel.

The suit alleged that the Palestinian Authority was culpable because it failed to
take steps to stop Hamas militants from carrying out such attacks.

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Read more: http://www.haaretz.com/hasen/spages/846358.html