Zimbabwean Co. Can't Nix Service Order In $124M Award Fight

Law360 (August 6, 2020, 8:43 PM EDT) -- An English judge on Thursday denied a Zimbabwean commercial forestry company's bid to overturn an order allowing a former investor to serve documents relating to efforts to enforce a $124 million arbitral award, rejecting arguments that the order violated Zimbabwean law.

Julia Dias QC, sitting as a deputy high court judge, concluded that a Zimbabwean law passed in 2018 relating to financially distressed companies, which precludes litigation being filed against a company in the midst of "corporate rescue proceedings," didn't apply to Border Timbers Ltd.

Heinrich Bernd Alexander Josef Von Pezold and his family were former majority shareholders in Border Timbers, and...

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