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

Court upholds Citigroup arbitration win over Abu Dhabi fund

Posted on 20 February 2014

A U.S. appeals court on Wednesday rejected the Abu Dhabi Investment Authority’s effort to void Citigroup Inc’s arbitration win in a dispute over a $7.5 billion investment in the bank less than a year before the 2008 financial crisis.
The 2nd U.S. Circuit Court of Appeals in New York said the sovereign wealth fund did not meet the “high hurdle” of showing that an American Arbitration Association panel demonstrated a “manifest disregard of the law” or exceeded its powers in ruling for Citigroup………………………………………..Full Article: Source


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