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STATEMENT FROM BNP PARIBAS โ SUDAN LITIGATION
Globenewswireยท 2025-10-28 06:00
Core Viewpoint - The jury verdict against BNP Paribas regarding banking services provided to Sudanese entities is deemed fundamentally flawed and should be overturned [2][3][8] Legal Context - The trial involved banking services from over 15 years ago that complied with European and Swiss laws, which allowed banking activities with Sudanese entities not involving military equipment [2][3] - The trial court had previously determined that Swiss law governed the plaintiffs' claims, but the verdict misapplied Swiss law, as confirmed by the Swiss Government and other legal authorities [3][4] Evidence and Defense - BNP Paribas asserts that the banking services provided did not cause any prejudice to the plaintiffs, and no evidence has been presented to establish a connection [4][5] - The bank was not permitted to present extensive evidence relevant to its defense, including compliance with European and Swiss laws [5] Ethical Concerns - Allegations of serious ethical misconduct among plaintiffs' counsels have emerged, suggesting that witness testimony may have been improperly influenced, raising concerns about the integrity of the trial [6] Damages and Liability - The jury's award of damages was specific to three individual plaintiffs, and the trial court will continue to address claims from other plaintiffs individually [7] - Any assertion that liability or damages have been established for a broader class is considered incorrect [7] Future Actions - BNP Paribas is confident in its legal arguments and intends to appeal the verdict, seeking to have it overturned [8]