Judge Confirms $702M Award For Berkshire Hathaway Unit

Law360 (July 16, 2020, 7:07 PM EDT) -- A New York federal judge on Wednesday confirmed a $702 million award for a Berkshire Hathaway unit that claims it was duped into buying a German pipe maker, saying an arbitral panel correctly parsed the unit's fraud and breach-of-contract claims.

Pipe maker Schulz Holding GmbH & Co. KG and related entities had tried to skirt the award issued by an International Centre for Dispute Resolution tribunal, saying plaintiffs Precision Castparts Corp. and its German subsidiary, PCC Germany Holdings GmbH, violated the so-called "rehash doctrine" under Delaware law.

That doctrine says that a party cannot plead damages for fraud that are identical to damages sought...

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