Carlyle MBS Suit Belongs In Kuwait, Del. High Court Hears

Law360, Wilmington (May 1, 2013, 10:48 PM EDT) -- Delaware's Supreme Court heard oral arguments Wednesday as Kuwait-based National Industries Group sought to topple a ruling that barred the conglomerate from suing Carlyle Investment Management LLC in any court outside the state over a failed $10 million mortgage-based securities investment.

Seeking to recoup its losses from the private equity firm, NIG had filed a complaint against Carlyle in Kuwait only to be stymied in 2011 when the Delaware Chancery Court issued a default judgment enjoining the suit as a violation of the forum-selection clause in...
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