Carlyle Keeps $10M MBS Fund Fight With Kuwait Co. In Del.

Law360, New York (October 11, 2012, 8:31 PM EDT) -- A Delaware state judge on Thursday declined to vacate a default judgment against Kuwait-based conglomerate National Industries Group (Holdings) in a dispute over a failed $10-million Carlyle Investment Management LLC-related closed-end investment fund for mortgage-backed securities, holding the companies to the forum selection clause in their contract.

Chancellor Leo E. Strine upheld a July 2011 decision enjoining National from prosecuting any action against private equity firm Carlyle related to the failed investment anywhere other than Delaware, as the parties agreed to in an investment contract. National...
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