BNP Paribas disputes US court verdict over role in Sudan atrocities
France’s largest bank, BNP Paribas, announced on Tuesday its decision to contest a United States court ruling related to litigation involving Sudan. The bank intends to appeal, asserting confidence that the initial ruling will be overturned.
France’s largest bank, BNP Paribas, announced on Tuesday its decision to contest a United States court ruling related to litigation involving Sudan. The bank intends to appeal, asserting confidence that the initial ruling will be overturned.
A New York federal jury had determined that BNP Paribas facilitated the government of former Sudanese president Omar al-Bashir in committing genocide. Consequently, the court ordered BNP Paribas to compensate three plaintiffs with a sum nearing $21 million.
The bank's shares experienced a decline of approximately 10% after the verdict, with analysts linking the drop to the court's decision. In response, BNP Paribas released a statement on Monday affirming its commitment to utilize all available legal remedies to contest the case. The bank emphasized that the verdict pertains only to the three plaintiffs involved and should not be generalized to other cases or imply a potential settlement.
"This verdict is specific to these three plaintiffs and should not have broader application," the bank stated.
France’s largest bank, BNP Paribas, announced on Tuesday its decision to contest a United States court ruling related to litigation involving Sudan.
BNP Paribas had facilitated Sudanese authorities' access to international financial markets during the 1990s and 2000s. The plaintiffs argued that these financial arrangements enabled the Sudanese government to perpetrate atrocities against its citizens.
Representatives for the plaintiffs suggested that the court's decision could potentially allow over 20,000 Sudanese refugees in the United States to pursue substantial claims for damages against BNP Paribas.
A law firm representing the plaintiffs described the verdict as a significant milestone in human rights and financial accountability, potentially setting a precedent for holding international banks accountable for aiding regimes accused of crimes against humanity.
Omar al-Bashir's regime, which spanned three decades, was characterized by authoritarian rule and multiple internal conflicts, including the war in Darfur. The conflict in Darfur, between 2003 and 2005, reportedly resulted in the deaths of approximately 200,000 civilians and the displacement of two million people, as documented by the US Holocaust Memorial Museum.
The United States recognized the genocide in Darfur in 2004, and in 2009, the International Criminal Court indicted Bashir on charges including genocide and crimes against humanity. He was removed from power in a coup in 2019.
Based on reporting by Africanews.
