6th Circ. OKs Ex-Biz Partner's Fraud Claims Against Satyam
By Kat Greene
Law360, Los Angeles (September 13, 2013, 9:27 PM ET) -- The Sixth Circuit on Friday found that "Indian Enron" Satyam Computer Services LLC was responsible for concealing massive fraud from its business partner when it won Venture Global Engineering LLC’s shares in arbitration, overturning a lower court’s ruling.
The three-judge panel found that the lower court had erred when it ruled Venture could not introduce new fraud claims after Satyam Computer Services Ltd. won ownership of their joint venture in a 2005 arbitration.
Satyam in August 2012 won a motion to have Venture’s case against it...