Citi Exits Battle Over Property Investor's $30M Award

Law360, New York (January 3, 2012, 3:58 PM EST) -- Real estate investment concern Oxford Street Properties LLC on Tuesday settled with Citibank NA after accusing the bank of conspiring with Oxford's former business partner to dodge a $30 million arbitration award over alleged fraud at a Los Angeles loft project.

U.S. District Judge Jacqueline H. Nguyen said in an order that Oxford's claims against New York-based Citi had been settled ahead of a jury trial set to begin April 10.

Judge Nguyen also scrapped a hearing on the parties' competing motions for summary judgment that...
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