Shareholders Dodge Payment In $29M Wine Co. Award

By Emma Whitford (March 30, 2020, 6:03 PM EDT) -- A New York federal judge on Friday dismissed a U.S. investor's bid to enforce a $28.7 million arbitral award against shareholders in a Chilean wine company, saying the investor filed its bid too late.

Chicago-based investor EGI-VSR LLC wrongly relied on a private agreement between it and American shareholders Richard and Alex Huber in its effort to pause the clock on collecting the award, according to Judge Edgardo Ramos.

In actuality, the judge said, New York law limits the ability of private parties to toll, or pause, statutes of limitations.

Under New York's General Obligations Law, Judge Ramos wrote in his...

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