Contract Suit V. Ex-Amaranth Unit Barred In India

Law360, New York (March 25, 2010, 2:49 PM EDT) -- A federal judge has blocked an ex parte action Indian broker-dealer Indiabulls Financial Services Ltd. brought in its home country against a former Amaranth LLC affiliate over a joint venture gone awry, ordering the companies to arbitrate the dispute in New York.

Judge Paul G. Gardephe of the U.S. District Court for the Southern District of New York ordered Indiabulls on Tuesday to withdraw its suit against Amaranth successor Amaprop Ltd. or face contempt sanctions. He also issued a strong rebuke of Indiabulls for "proceeding in...
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