PE Firm Says 2nd Circ. Was Wrong To Enforce $1M Award

Law360 (April 30, 2021, 6:57 PM EDT) -- A Canadian private equity firm is urging the Second Circuit to rethink its decision enforcing a more than $1 million arbitral award issued to a company it had enlisted to raise capital, arguing that the court wrongly took the arbitrator's "baseless conclusions at face value."

Azimuth Capital Management IV Ltd. argued in its Friday rehearing petition that the arbitrator who adjudicated the dispute improperly excluded important evidence by refusing to adjourn a hearing after one of the company's witnesses became unavailable due to the sudden death of his father. Compounding the issue, the arbitrator then refused to allow a replacement witness...

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