2nd Circ. Affirms $109M Award For Abengoa In Sugar Deal

Law360, Los Angeles (January 7, 2014, 4:36 PM EST) -- The Second Circuit on Tuesday refused to overturn a $109 million arbitration award granted to Abengoa SA after it was allegedly misled over its purchase of a Brazilian sugarcane ethanol business, finding the lead arbitrator was impartial despite his firm's contractual relationship with Abengoa.

The appeals court affirmed a ruling by U.S. District Judge Jed S. Rakoff, who had upheld the award after deciding David Rivkin of Debevoise & Plimpton LLP wasn't aware his colleagues gave legal advice to clients involved in corporate transactions with Abengoa....
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