Del. High Court Won't Move $10M Carlyle MBS Suit To Kuwait

Law360, New York (May 29, 2013, 6:13 PM EDT) -- The Delaware Supreme Court on Wednesday upheld a ruling that barred Kuwait-based National Industries Group from suing Carlyle Investment Management LLC in any court outside the state over a failed $10 million mortgage-based securities investment.

The court said NIG — which filed a complaint in Kuwait seeking to recoup its losses from Carlyle that was stymied when the Delaware Chancery Court issued a default judgment enjoining the suit as a violation of the forum selection clause in the companies' investment contract — failed to show there...
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