Citigroup Urges 2nd Circ. To Drop Abu Dhabi Fund Appeal

Law360, New York (October 2, 2013, 2:40 PM EDT) -- Citigroup on Tuesday urged the Second Circuit to deny Abu Dhabi Investment Authority’s request to vacate an arbitration panel’s award in favor of Citigroup in a dispute over a failed $7.5 billion investment made at the height of the 2007 housing crisis, saying ADIA had no grounds for appeal.

In a brief filed as appellee, Citigroup told the court that ADIA’s appeal should be “summarily denied” on the grounds that it the authority had not remotely satisfied the heavy burden required to justify judicial review of...
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