Moscow Mall Shareholder Gets $84M Award Confirmed

By Hannah Sheehan (March 18, 2016, 4:03 PM EDT) -- A California federal judge on Thursday confirmed an $84 million-plus London arbitration award against a former member of Russia's lower house of parliament for allegedly misappropriating a shareholder's interest in a Moscow shopping center, saying the New York Convention affords little discretion in reviewing such an award.

U.S. District Judge Manuel L. Real said the New York Convention manifests "'a general pro-enforcement bias'" for foreign arbitration awards, adding that none of the reasons given by ex-State Duma member Ashot Yegiazaryan for setting the award aside trumped the court's obligation to enforce the award in favor of petitioner Vitaly Smagin.

"The petition...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!