Sat, Nov 22, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS

Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Citigroup can’t block Abu Dhabi arbitration over $7.5 bln stake

Posted on 26 November 2013

A U.S. judge has rejected Citigroup Inc’s effort to block the Abu Dhabi Investment Authority from seeking a second arbitration over the sovereign wealth fund’s $7.5 billion investment in late 2007 to shore up the then-struggling bank.
U.S. District Judge Kevin Castel in Manhattan said on Monday that arbitrators, not federal judges, had power to decide whether Citigroup’s success in the first arbitration barred the ADIA from pursuing a second arbitration, in which it seeks $2 billion of damages or to rescind its investment………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 15239 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Comments are closed.

banner
November 2014
M T W T F S S
« Oct    
 12
3456789
10111213141516
17181920212223
24252627282930