A $40 million judgment arising from a suit against a Saudi Arabian company in an English court can be enforced in New York, the First Department has held.
May 29, 2014 at 12:00 AM
1 minute read
A $40 million judgment arising from a suit against a Saudi Arabian company in an English court can be enforced in New York, a unanimous Appellate Division, First Department panel ruled Tuesday, affirming Manhattan Supreme Court Justice Shirley Werner Kornreich (See Profile).
The dispute revolves around a currency swap agreement between United Arab Emirates-based Abu Dhabi Commercial Bank and Saad Trading, a division of Saudi conglomerate Saad Group.
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