Abu Dhabi Fund Says $7.5B Citi Row Belongs In Arbitration

Law360, New York (September 25, 2013, 4:34 PM EDT) -- An Abu Dhabi investment fund told a New York federal judge Tuesday that arbitrators, and not the court, must rule on its allegations related to a failed $7.5 billion investment with Citigroup Inc. at the height of the 2007 housing crisis.

Abu Dhabi Investment Authority asked the court to dismiss Citigroup’s Aug. 28 complaint, which aims to block the fund’s arbitration proceeding. ADIA is seeking $4 billion in damages from Citigroup over the bank’s alleged misrepresentations in a November 2007 investment agreement. The deal was intended...
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