Tyco Accuses CIT Of Dragging Feet On $190M Tax Claim

Law360, New York (January 23, 2012, 2:02 PM EST) -- Tyco International Ltd. moved Friday to compel arbitration with reorganized business lender CIT Group Inc., saying that although a judge ruled for Tyco on a $190 million claim in a tax benefits dispute, CIT continues to fight arbitration.

“The history of this dispute is replete with efforts by CIT to avoid adjudication of the merits of Tyco's claim,” the motion said. “It is time for that adjudication to take place, in the arbitral forum that the parties agreed should resolve such disputes.”

On Dec. 21, Tyco...
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Case Information

Case Title

CIT Group Inc.


Case Number

1:09-bk-16565

Court

New York Southern

Nature of Suit

Date Filed

November 1, 2009

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