April 24, 2019
Asset management firm Black Diamond is asking the Second Circuit to overturn a New York federal court's decision to vacate a $37 million arbitral award relating to the distribution of a bankrupt borrower's assets after the judge found the arbitrators acted in "manifest disregard" of the law.
March 25, 2019
A New York judge has vacated a $37 million arbitral award relating to the distribution of a bankrupt company's assets — an award to secured creditors that had been reduced by more than $2.1 million — concluding the arbitrators had acted in "manifest disregard" of the law.