License No. SU-3808

Date issued: Mar. 05 2012

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TURBOFAC Commentary (904 words)

Notes:

1) BACKGROUND

As described in the PDF file, the funds transfer was originated by a blocked person (Sudan Airways), whose originating bank was National Bank of Abu Dhabi ("NBAD"), for the benefit of Sabena Airlines, which was a non-sanctioned Belgian airline that had provided "certain technical services for a Sudan Airways A310-200 aircraft" (p. 3).

OFAC kept the funds blocked for 15 years before authorizing their release (without specifying who the release should be made to).

The lawsuit described in the PDF is over Deutsche Bank, after receiving the license to unblock the funds applied for by the receivers of Sabena Airlines having "failed to remit the funds to Sabena" (p. 12, PDF), and instead remitting them back to Sudan Airways' originating bank (p. 11). Deutsche Bank evidently believe that Sudan Airways (still blocked at the time) "may have claim...