Indian Travel Co. Hit With $39M Arbitral Award Suit In NY

Law360 (April 27, 2021, 9:02 PM EDT) -- The former owners of an online hotel reservation service have urged a New York federal court to enforce their $39.2 million arbitral award against Indian travel company MakeMyTrip Ltd., saying it's on the hook for that sum because it never made good on a share purchase deal.

Blair James Speers and Graham Paul Johnson, who both reside in Thailand, claimed Friday in their petition that they and MakeMyTrip executed a 2012 share purchase agreement that entitled the men as share sellers to earn $35 million from the India-headquartered online travel brand owner and operator when it bought their former company, Hotel...

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