Palestinian Authority's US assets are frozen

[Brightmore]

Palestinian Authority's US assets are frozen
Boston Globe
Farah Stockman
August 30, 2005

A Rhode Island lawyer trying to collect a $116 million terrorism judgment against the Palestinian Authority has obtained a court-ordered freeze on all its US-based assets, severely limiting most Palestinian economic and diplomatic activities in the United States at a critical moment for the fledgling government.

The frozen assets include US holdings in a $1.3 billion Palestinian investment fund meant to finance economic development as well as bank accounts used to pay Palestinian representatives in Washington, according to lawyers and court documents filed in Rhode Island, Washington, D.C., and New York. Also frozen are about $30 million in assets from the Palestinian Monetary Authority, the Palestinian equivalent of the US Federal Reserve.

Providence attorney David Strachman, who is representing the orphaned children of a couple killed in Israel by Palestinian militants, has also initiated a court action to seize and sell the Palestinian-owned building in New York that serves as the Palestine Liberation Organization observer mission to the United Nations.

The aggressive collection effort comes as the Palestinian Authority is struggling to create economic opportunity and set up a viable government. Now, Palestinian officials say, the unpaid claim in the Rhode Island court, resulting from a 2004 ruling, threatens to complicate their efforts to become a credible emerging state.

Full story

[barb162]

1. "Palestinians have billions in overseas banks...."

And why aren't they using it for the Palestinian people, such as new housing, schools, etc. VEERRRRYYY interesting.

Wow, I didn't know they had THAT much sitting in banks unused while the Palestinian people are so poverty-stricken.

[Brightmore]

2. Well, the funding for the Al-Aqsa Martyrs' Brigades...

has to come from somewhere, right?

http://news.bbc.co.uk/1/hi/world/middle_east/3243071.stm

[newyorican]

3. Perhaps...

it's sitting there because the IDF is so adept at destroying infrastructure in Palestinian areas.

Now what could be interesting...is the differing reactions to this attempt to hit the Palestinians in the pocket compared to various groups attempt to hit the Israelis in the pocket through divestment. Why do I think that one will be A-OK, while the other will be characterized as anti-semitic?

[barb162]

4. I wonder why the Palestinian people don't rise up and kick

their crooked leaders out the proverbial door. I wonder why the Hamas leaders talk about continuing the armed struggle with Israel when maybe all the Palestinians should be constructively talking about what they should be doing with the billions sitting in these banks while they are sitting in slums for years. And why they have been in slums when this kind of big $$$$$ are sitting in banks. And demand answers of their leaders.

The IDF has to come in because Arafat gave and Abbas gives bigtime lip service to stopping attacks against Israel and next to no action.

[idontwantaname]

5. i think you may have a misunderstanding about the history of the conflict

of course i could be wrong.

why are all the PA HQ's(mukatas) in all the major cities in such poor condition?...

please enlighten me.

[newyorican]

6. So the IDF...

has to rip up sewer and water lines, and destroy power generation and distribution systems...because Arafat (isn't he dead?) and Abbas give lip service?

If you are in sales, I feel for you.

[manic expression]

7. No...

I think it's that occupation thing.

[number6]

8. me too

I think it's that occupation thing.

that's the problem ...

[barb162]

9. Oh, so Abbas isn't doing the same as Arafat in stopping

terrorism? That is, literally nothing. Umm, and if you are in sales, I feel likewise for you. Lip service means nothing.