In Mobil Cerro Negro, Ltd. v. Bolivarian Republic of Venezuela, No. 14-8163-cv (S.D.N.Y. Mar. 4, 2015), the District Court for the Southern District of New York confirmed an ICSID award’s interest rate, denying Defendant’s motion to modify the award to reflect a statutory interest rate. Defendant, Venezuela, sought modification of a prior order of the court (the “Opinion”) which confirmed Plaintiff’s $1.6 billion International Centre for Settlement of Investment Disputes (“ICSID”) arbitral award. Defendant argued…
Torres v. Simpatico, No. 14-1567 (8th Cir. Mar. 25, 2015), the Eighth Circuit Court of Appeals affirmed a…
If recent speculation is to be believed, the EU and US are sleep-walking into a scenario where they…
In Landmark Ventures, Inc. v. InSightec, Ltd., No. 14 Civ. 0233 (S.D.N.Y. Nov. 26, 2014), the U.S. District Court for the Southern District of New York denied a request to vacate a New York Convention award on several grounds, including an argument that the arbitrator was biased towards one party because both she and the party’s counsel were affiliated with the ICC. Petitioner Landmark Ventures, Inc. (“Landmark”) is a New York corporation that provides financial…
In re Sussex, No. 14-70158 (9th Cir. Jan. 27, 2015), a recent case in the Ninth Circuit Court of…
Ecopetrol S.A. and Korea National Oil Corporation v. Offshore Exploration and Production LLC, No. 14-cv-529 (S.D.N.Y. Sept. 10,…
In Sheldon Stone v. Theatrical Investment Corp., No. 14 Civ. 6494 (S.D.N.Y. Dec. 2, 2014), the U.S. District Court for the Southern District of New York afforded “strong deference” to an arbitrator’s conclusions, deflecting several challenges to the award, including a challenge to the arbitrator’s authority under New York law to appoint a receiver to collect and administer future distributions. Plaintiff, Sheldon Stone, on behalf of the Stone Family Trust (“SFT”), filed suit seeking confirmation of an arbitration award…
In a recent decision, Citigroup, Inc. v. Abu Dhabi Inv. Auth., No. 13-4825-cv, 2015 U.S. App. LEXIS 549…
In Seagate Technology, LLC v. Western Digital Corp., No. A12-1944 (Minn. Oct. 8, 2014), the Minnesota Supreme Court…
In VRG Linhas Aéreas S.A. v. MatlinPatterson Global Opportunities Partners II L.P., No. 11 Civ. 0198 (S.D.N.Y. Oct. 2, 2014), the U.S. District Court for the Southern District of New York denied a motion to confirm a Brazilian arbitration award against a non-signatory to the arbitration agreement. Case Background In 2007, Gol Linhas Aéreas Inteligentes S.A., a Brazilian airline, acquired VRG from two indirect subsidiaries of MatlinPatterson, a New York-based private equity firm. The share…