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Eletson Holdings Inc. v. Levona Holdings Ltd.

Award's, Petition's, Declaration's Filing With Redactions Denied;Suit To Be Unsealed

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MEMORANDUM AND ORDER On August 18, 2023, Petitioners Eletson Holdings, Inc. (“Holdings”) and Eletson Corporation (“Corp.” and, with “Holdings,” “Eletson” or “Petitioners”) filed this petition to confirm an arbitration award with the Clerk of Court. Dkt. No. 2. On that date, at the request of Respondent Levona Holdings Ltd. (“Levona” or “Respondent”), Judge Rakoff, who was then sitting in Part I, ordered that the case be filed temporarily under seal. Dkt. No. 1. Respondent now moves for the petition, the arbitration award, and the declaration and exhibits in support of that petition to be publicly filed in redacted form. Dkt. No. 7. The motion to file the petition and related papers with redactions is denied. BACKGROUND For purposes of this motion, the Court assumes the truth of the allegations of the petition to confirm the arbitral award. Holdings and Corp. are corporations formed under the laws of Liberia. Dkt. No. 2 2. Levona is a special purpose entity incorporated under the laws of the British Virgin Islands. Id. 3. Levona is owned by two hedge funds (the “Hedge Funds”), which in turn are managed and wholly controlled by an alternative management firm (the “Controller”). Id. Eletson and Levona were each parties to a limited liability company agreement (“LLC Agreement”) addressing the membership interests they held in a $700 million liquified petroleum gas joint venture (the “Company”), which, among other things, owned, directly or indirectly, fourteen liquified petroleum gas carriers. See id.

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