Tramex Owners Sue Georgia For $98M Pipeline Award

Law360, New York (November 14, 2011, 4:11 PM EST) -- The owners of Tramex International Inc. sued the Republic of Georgia in New York on Thursday in a bid to reap a $98 million arbitration award related to the country's alleged breach of an oil and gas pipeline agreement.

Ron Fuchs, an Israeli citizen — who was sentenced to seven years in prison by a Georgian court in April for attempted bribery of a government official — and Ioannis Kardassopoulos, a Greek citizen, asked a federal court to recognize and enforce the award, which was granted...
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