October 23, 2024
An Egyptian businessman has lost his years-old bid in New York federal court to vacate an approximately $192 million arbitral award favoring UBS and other lenders in a dispute over a $100 million Eurobond default.
May 07, 2019
An Egyptian businessman can't escape an arbitration panel's order nixing his counterclaims in a dispute over a $100 million bond debt default, UBS AG and other lenders told a New York federal judge Monday, saying he is wasting the court's time.
March 06, 2019
UBS AG and other lenders have blasted an Egyptian businessman's bid to escape an arbitral award stemming from claims that he and his brother looted $100 million in bonds backed by companies they controlled, telling a New York federal court Tuesday that the request is "fundamentally flawed."
February 05, 2019
An Egyptian businessman urged a New York federal judge Monday to vacate a nearly $194 million arbitral award secured by lenders who claimed he and his brother plundered bonds backed by companies they controlled, saying the arbitrators didn't give him a fair chance to present his case.
February 24, 2017
A Manhattan federal judge on Thursday granted a stay pending arbitration proceedings to lenders who accuse two Egyptian businessmen of plundering $100 million in bonds issued by companies the men controlled, in a move limiting the brothers’ ability to further delay review of the nearly decade-old case.
February 14, 2017
A New York federal judge said Tuesday that two Egyptian brothers must arbitrate with UBS AG and other lenders over $100 million in unpaid corporate bonds, concluding that Ramy and Michel Lakah "dominated and controlled" the companies that backed the debt and must answer for them.
August 01, 2016
A Manhattan federal judge on Friday refused a bid by Egyptian businessmen Ramy and Michel Lakah to abandon their suit that had aimed to halt their participation in arbitration with UBS and others over their $100 million bond debt default.
July 05, 2016
Egyptian businessmen Ramy and Michel Lakah's quest to avoid liability to UBS and other banks for a $100 million bond debt default took a bizarre turn Tuesday when the brothers refused to participate in their own trial, nine years in the making, over whether they would have to submit to binding arbitration.
June 30, 2016
A Manhattan federal judge on Thursday turned aside an eleventh-hour bid by Egyptian businessmen Ramy and Michel Lakah to delay a trial that will decide if they may be held liable in arbitration to debt investors including UBS AG for $100 million in bond debt that the two brothers controlled.
June 15, 2016
Egyptian businessmen Ramy and Michel Lakah blasted a request by a gaggle of banks who blame the brothers for a $100 million debt default to reuse witness statements from an arbitration proceeding that the Lakahs don't want anything to do with, telling a New York federal judge Tuesday that they deserve to cross-examine the witnesses.