Iran’s Crescent Appeal Admitted by UK Supreme Court
WANA (Dec 06) – The UK Supreme Court has officially registered the National Iranian Oil Company’s (NIOC) appeal in the Crescent legal dispute, placing the case on its docket for review. The development opens a new window of opportunity to prevent the seizure of a valuable property belonging to the Oil Industry Pension Fund in London.
According to information published on the Supreme Court’s official website, NIOC’s appeal has been recorded under reference number UKSC/2025/0190 and will be examined by the highest judicial authority in the United Kingdom.
The Court’s public records show that the appeal has been filed as an “appeal as of right,” a category in English law that allows certain cases to be brought before the Supreme Court without requiring separate permission, provided that statutory requirements and deadlines are met. Under this mechanism, NIOC’s appeal has been formally accepted and registered.
This development comes after the UK Court of Appeal previously ruled in favor of UAE-based Crescent Petroleum, increasing the likelihood of enforcing an order to seize the building known as the “Oil House” on Victoria Street in London.
Crescent claims that, following an international arbitral award issued in its favor, NIOC transferred the property known as the “NIOC House” to the Oil Industry Pension and Welfare Fund to place assets beyond the reach of creditors.
Last year, the High Court of London ruled—citing Section 423 of the Insolvency Act—that the transfer constituted a transaction “at an undervalue and with intent to defraud creditors,” and declared it invalid.
The Court of Appeal upheld this decision on 30 September 2025, although disagreement among its three judges allowed the matter to be referred to the Supreme Court.
On 3 October, NIOC’s legal team filed a petition for appeal, and with its acceptance by the Supreme Court, hopes for a legal reassessment of the earlier rulings have revived.
With the Supreme Court now taking up the case, the enforcement of the seizure order depends entirely on the final judgment of the UK’s highest court.
According to informed sources, acceptance of the appeal means the Court will re-examine arguments from both sides and review the lower courts’ decisions—a process that is typically lengthy.
The Supreme Court is the only judicial authority in the UK empowered to overturn such rulings and usually intervenes only in cases with significant legal or public implications.
In earlier statements responding to the previous rulings, NIOC emphasized that it would continue to pursue legal remedies to overturn the seizure order.
It noted that all available avenues, including appeals and petitions for judicial review, would be followed in coordination with the Presidential Center for International Legal Affairs and other relevant bodies.
Meanwhile, a group of Iranian oil industry employees and retirees has launched a petition on Change.org calling for official recognition of the Pension Fund’s ownership of the property.
The petition, signed by more than 15,000 people, asserts that “the building was purchased using pension fund resources and its revenues support the retirement, life insurance, and healthcare benefits of more than 200,000 oil industry workers.”
The Crescent case stems from a 2001 gas contract between NIOC and the UAE-based Crescent Petroleum. Subsequent disputes led to international arbitration, and the resulting award has since formed the basis for Crescent’s financial claims.
In recent years, Crescent has pursued recognition and enforcement of the award in various jurisdictions, including the UK, seeking to identify and seize assets linked to NIOC. The case concerning the Oil Industry Pension Fund property in London is one such effort.
The Supreme Court’s acceptance of NIOC’s appeal now represents the latest—and potentially most consequential—legal step in efforts to prevent enforcement of the ruling, a development legal observers say could significantly alter the course of the case in favor of the Iranian side.
