UK Supreme Court dockets Iran’s appeal over London building confiscation
The British Supreme Court has officially docketed the National Iranian Oil Company’s (NIOC) appeal in the Crescent legal, a major legal development that could prevent the confiscation of a valuable property belonging to Iran’s Oil Industry Employees Pension Fund in London.
According to information published on the court’s official website, the UK Supreme Court registered NIOC’s appeal under case ID UKSC/2025/0190, placing the dispute on its docket for review.
The appeal has been admitted “as of right,” meaning it did not require special permission and was filed in line with legal procedures and deadlines.
This comes at a time when the British Court of Appeal had previously ruled in favor of the Emirati company Crescent, which increased the likelihood of enforcing the confiscation order for the building known as “Oil House” on London’s Victoria Street.
Crescent claims that the National Iranian Oil Company transferred the property to the Oil Industry Employees Pension and Welfare Fund to remove its assets from the reach of creditors after an international arbitration ruling was issued in the company’s favor.
Last year, the London High Court ruled that the transfer was made “for less than true value” and with the intention of blocking debt recovery.
Although the Court of Appeal confirmed that ruling in October 2024, disagreement among its three judges created grounds for escalation to the Supreme Court.
On October 11, Iranian legal representatives submitted their appeal, which the Supreme Court has now formally accepted, injecting new hope into Iran’s efforts to overturn the confiscation order. With the case now before the UK’s highest judicial authority, any action involving the disputed building will depend on the forthcoming Supreme Court judgment.
Meanwhile, more than 15,000 Iranian oil industry employees and retirees have signed a petition demanding recognition of the pension fund’s ownership of the London property. They argue the building was purchased using pension fund assets and that its income supports pensions, insurance, and healthcare for over 200,000 workers.
Reports published in the Iranian media have estimated that the NIOC House in London is worth £100 million ($125 million).
The Crescent case dates back to the 2001 gas contract between the National Iranian Oil Company and the Crescent Group, which was not implemented, and the dispute between the parties was referred to international arbitration, and ultimately a verdict was issued in favor of the Emirati company.
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