Arnold & Itkin Can't Kick Sanctions In Arbitration Dispute

Law360, New York (April 06, 2012, 5:46 PM ET) -- The Second Circuit on Friday affirmed sanctions a district court had imposed against Texas-based law firm Arnold & Itkin LLP for the firm's conduct in a dispute between its individual client and appellee Prospect Capital Corp. over a loan for the purchase of an oil pipe company.

Despite Arnold & Itkin's arguments that its actions did not sufficiently impair the arbitration proceeding, the circuit court ruled that the district court had not abused its discretion in sanctioning the firm for its attempts to derail a federal...
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