Evening Standard Treasury

 

Extracts from an article by Jim Armitage, city editor for The Evening Standard.

“The Treasury has paid Deloitte more than £6 million to help defend a multi-billion lawsuit from Iranian finance house Mellat despite the bank also being a client of the accounting giant.

Tehran’s Bank Mellat was slapped with financial sanctions by the Treasury under the Counter-Terrorism Act due to its apparent involvement in funding the Iran nuclear programme.

The bank sued, successfully claiming in the Supreme Court that the sanctions were unlawful.

It is now seeking damages of $4 billion (£2.9 billion) in what is the biggest claim ever taken against the UK Treasury. 

The Deloitte contract, awarded in March 2016, is for forensic accounting work and was uncovered by public tenders researcher Tussell.”

Read the full article on The Evening Standard website.