Funds Defend $9M Award In Chinese Real Estate Arbitration

Law360 (November 15, 2019, 7:13 PM EST) -- A bid to vacate a $9 million costs award issued in a dispute over a $200 million investment deal involving a Chinese real estate developer is a "Hail Mary" based on a "fictitious" account of the underlying arbitration, a pair of venture capital funds argued in California federal court.

1955 Capital Fund I GP LLC and 1955 Capital China Fund GP LLC told the court in a Thursday brief that China Fortune Land Development and its Hong Kong subsidiary, Global Industrial Investment Ltd., are wrongly asking the court to second-guess the conclusions of the "highly accomplished" arbitrator who issued the award,...

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