Page:Bank Markazi v. Peterson SCOTUS slip opinion.pdf/13

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BANK MARKAZI v. PETERSON

Opinion of the Court

the proverbial kitchen sink with arguments.” Id., at 111a. They argued, inter alia, the absence of subject-matter and personal jurisdiction, id., at 73a–104a, asserting that the blocked assets were not assets "of" the Bank, see supra, at 4, n. 3, and that the assets in question were located in Luxembourg, not New York, App. to Pet. for Cert. 100a. Several of their objections to execution became irrelevant following enactment of §8772, which, the District Court noted, "sweeps away ... any ... federal or state law impediments that might otherwise exist, so long as the appropriate judicial determination is made." Id., at 73a; §8772(a)(1) (Act applies “notwithstanding any other provision of law”). After §8772’s passage, Bank Markazi changed its defense. It conceded that Iran held the requisite “equitable title to, or beneficial interest in, the assets,” §8772(a)(2)(A), but maintained that §8772 could not withstand inspection under the separation-of-powers doctrine. See Defendant Bank Markazi’s Supplemental Memorandum of Law in Opposition to Plaintiffs’ Motion for Partial Summary Judgment in No. 10–CIV–4518 (SDNY), pp. 1– 3, 10–16. ^[1]

↑ In addition, Bank Markazi advanced one argument not foreclosed by §8772’s text, and another that, at least in Bank Markazi’s estimation, had not been rendered irrelevant by §8772. First, Bank Markazi argued that the availability of the assets for execution was a nonjusticiable political question because execution threatened to interfere with European blocking regulations. App. to Pet. for Cert. 92a–94a. Second, the Bank urged that execution would violate U. S. treaty obligations to Iran. See Defendant Bank Markazi’s Supplemental Memorandum of Law in Opposition to Plaintiffs’ Motion for Partial Summary Judgment in No. 10–CIV–4518 (SDNY), pp. 2–3, 21–25. The District Court found these arguments unavailing. The matter was justiciable, the court concluded, because §8772’s enactment demonstrated that the political branches were not troubled about interference with European blocking regulations. App. to Pet. for Cert. 94a–96a. And treaty provisions interposed no bar to enforcement of §8772 because, the court reiterated, §8772 displaces “any” inconsistent provision of law, treaty obligations

[1] In addition, Bank Markazi advanced one argument not foreclosed by §8772’s text, and another that, at least in Bank Markazi’s estimation, had not been rendered irrelevant by §8772. First, Bank Markazi argued that the availability of the assets for execution was a nonjusticiable political question because execution threatened to interfere with European blocking regulations. App. to Pet. for Cert. 92a–94a. Second, the Bank urged that execution would violate U. S. treaty obligations to Iran. See Defendant Bank Markazi’s Supplemental Memorandum of Law in Opposition to Plaintiffs’ Motion for Partial Summary Judgment in No. 10–CIV–4518 (SDNY), pp. 2–3, 21–25. The District Court found these arguments unavailing. The matter was justiciable, the court concluded, because §8772’s enactment demonstrated that the political branches were not troubled about interference with European blocking regulations. App. to Pet. for Cert. 94a–96a. And treaty provisions interposed no bar to enforcement of §8772 because, the court reiterated, §8772 displaces “any” inconsistent provision of law, treaty obligations

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