Iron Cos.' Action Over $48M Award Survives Dismissal Bid

Law360 (June 18, 2018, 9:07 PM EDT) -- A New York federal judge declined Friday to ax litigation seeking to enforce an over $48 million arbitral award secured by Brazilian iron companies, saying the alleged successors of steel company Steel Base Trade AG failed to show that they shouldn't be held liable for the award or that it shouldn't be recognized.

U.S. District Judge Robert W. Sweet shot down a dismissal bid lodged by Hans Mende, Fritz Kundrun and several interrelated companies they allegedly control, including Prime Carbon GmbH and AMCI Holdings Inc., seeking to shake a suit that landed back in district court after the U.S. Supreme Court...

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