Cukurova Urges 2nd Circ. To Nix Telecom Co.'s $932M Win

Law360, New York (August 22, 2013, 6:48 PM ET) -- Turkish holding company Cukurova Holding AS asked the Second Circuit on Thursday to reverse Swedish telecom company TeliaSonera AB’s $932 million win in a New York action enforcing a merger-related arbitration award, arguing it has no meaningful ties to the state.

A New York federal court made a mistake when it found that TeliaSonera’s win against Cukurova in arbitration in Geneva, Switzerland, could be enforced in the state, a lawyer for the company said in arguments before a panel of judges in Manhattan.

The holding company...
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