Oak Investment, Gobi Push For $60M VisionChina Payout

Law360, New York (November 22, 2011, 1:28 PM EST) -- Private equity firms Oak Investment Partners and Gobi Partners Inc. asked a New York state judge Monday to compel Chinese digital advertising company VisionChina Media Inc. to pay $60 million they say it owes for the 2010 purchase of rival Digital Media Group.

The motion for partial summary judgment follows a Nov. 3 ruling dismissing VisionChina's claims and counterclaims for fraud, breach of contract and unjust enrichment regarding the $160 million deal and ordering the company to pay the private equity firms the $30 million it...
To view the full article, register now.