05Aug
€643 Million Arbitration Award Was Within Arbitration Panel’s Power to Award and Not a Result of Manifest Disregard of the Law
Precision Castparts Corp. purchased companies with manufacturing facilities in the United States and Germany for €800 million. After the sale closed, Precision discovered that the seller had “manipulated financial documents of the acquired companies to show that they were ‘high margin’ and ‘high cash flow’ businesses. In fact, the acquired companies were ‘functionally insolvent.'”...
By:
Carlton Fields
Related
In one of its first major rulings, Hong Kong's Competition Tribunal (the "Tribunal") has ruled again...
Read More >
The Financial Services Regulatory Authority of Ontario (FSRA) has announced a “one-time opportunity...
Read More >
Oregon passed several employment bills this year that will affect Oregon employers. The following ar...
Read More >
Persistent confusion over the Department of Labor’s (DOL) “fluctuating workweek” (FWW) pay method...
Read More >
Special series focused on the impact of the COVID-19 pandemic on the Aerospace, Defense, and Governm...
Read More >
Recent M&A deals the teams have worked on involving insolvent corporates have highlighted the challe...
Read More >