A federal judge has confirmed a $35 million arbitration award, plus $5.6 million in attorney fees, to a security services firm following a soured business deal.
The arbitration panel acted within its authority when it awarded attorney fees to Security Management Group after it had set the amount of damages and stated that SMG could also recover attorney fees related specifically to the collection of a $12 million promissory note. That note was part of the total $42 million that Day & Zimmermann was to pay SMG when the two companies planned to form a new company called Secure Our Country.
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