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Credit Agricole Corporate and Investment Bank et al v. Black Diamond Capital Management, LLC et al
Case Number:
1:18-cv-07620
Court:
Nature of Suit:
Judge:
Firms
Companies
Sectors & Industries:
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April 24, 2019
Black Diamond Asks 2nd Circ. To Restore Reduced Award
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.
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March 25, 2019
Panel's 'Disregard' Of Law Leads To $37M Award Nix In NY
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.