Letters Blogatory

The Blog of International Judicial Assistance | By Ted Folkman of Folkman LLC

Posts tagged “FAA

Case of the Day: Fiorilla v. Citigroup Global Markets

Posted on July 4, 2018

The case of the day is Fiorilla v. Citigroup Global Markets, Inc. (S.D.N.Y. 2018). John Leopoldo Fiorilla brought an arbitration against Citigroup in 2010. Fiorilla, a self-described “unsophisticated” investor, opened an account with Citi in 2006 to manage his $19.5 million life savings. He alleged that through “mismanagement and malfeasance,” Citi “eviscerated” his savings, which in the end were worth just $20,000. In 2012, Fiorilla’s lawyer accepted Citi’s offer to settle for $800,000, subject to negotiation of a mutually agreeable settlement agreement. But the parties disputed whether a real settlement had been reached or whether there were still material terms to be worked out. The tribunal rejected Citi’s motion to enforce the settlement agreement and its motion to terminate the arbitration based on the…

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Case of the Day: Hardy Exploration v. India

Posted on June 12, 2018

The case of the day is Hardy Exploration & Production (India), Inc. v. Government of India (D.D.C. 2018). It’s a rare example of a US court refusing to confirm an international arbitral award on the grounds that it violates US public policy. Hardy had a contract with the Indian government to search for and extract hydrocarbons in the waters off India’s southeastern coast. If it found oil, it would have two years under the contract to determine if the find was commercially viable; but if it found gas, it would have five years. Hardy found hydrocarbons and claimed it had five years to make its determination, but the Indian government disagreed, claiming that Hardy only had two years. When two years had passed, the…

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Case of the Day: Ingenieria, Maquinaria Y Equipos v. ATTS

Posted on January 3, 2018

The case of the day is Ingenieria, Maquinaria Y Equipos de Colombia S.A. v. ATTS Inc. (D.N.J. 2017). ATTS was the agent of ISGEC John Thompson Ltd., which sold commercial boilers. IMECOL and ATTS entered into a three-year agreement under which IMECOL would act as sub-agent and would sell IJT boilers in Colombia. The agreement had an agreement to arbitrate that provided for arbitration in Cali, Colombia. ATTS learned that IMECOL had contacted IJT and had tried to negotiate to become IJT’s agent in Latin America. ATTS then terminated the agreement with IMECOL, arguing that IMECOL had breached the agreement’s provision forbidding direct contact with IJT and had entered the agreement under false pretenses, and IMECOL initiated an arbitration. ATTS declined to participate in…

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