News 24 Jun. 2021
Curtis successfully defends foreign states' procedural privileges in the UK Supreme Court
News 23 Jun. 2021
Ibrahim Elsadig joins Curtis as Partner in Dubai
News 09 Aug. 2021
Curtis, Mallet-Prevost, Colt & Mosle enters into association with Chevalier Law in Singapore.
Event 23 Apr. 2021
Partner Borzu Sabahi to speak on Damages, Enforcement and Annulment of Arbitral Awards at Executive Training Program hosted by the Government of India and the Indian Institute of Foreign Trade
Event 21 Sep. 2021
Partner Simon Batifort Lectures on the Defense of States in Investment Arbitration at Université Paris Nanterre
News 21 Sep. 2021
Curtis Italy wins Arbitration Firm of the Year at the Italian LegalCommunity Litigation Awards 2021
Event 07 Sep. 2021
Partner Elisa Botero Speaks on Panel within Framework of Colombia's 4th National Arbitration Competition
News 30 Aug. 2021
Curtis Returns to SCOTUS in Historic Sequel on the Rights of Citizens in Puerto Rico
News 20 Sep. 2021
Curtis Successfully Defends the Sultanate of Oman and Oman Aluminium Rolling Company LLC in U.S. Department of Commerce Trade Case
News 16 Aug. 2021
Curtis Establishes Presence in Saudi Arabia
Publications 22 Sep. 2021
Client Alert 24 Jun. 2021
U.S. Insight: Update on Virtual Notarization (Executive Order 202.7) During the COVID-19 (Coronavirus) Pandemic (Updated: June 24, 2021)
U.S. Insight: Update on Virtual Witnessing (New York Executive Order 202.14) During The COVID-19 (Coronavirus) Pandemic (Updated: June 24, 2021)
News 02 Apr. 2019
Curtis recently prevailed in U.S. District Court for the Southern District of New York, where it secured confirmation of an international arbitral award on behalf of its long-standing client, CRT Capital Group LLC ("CRT"). In 2018, a panel of FINRA arbitrators had awarded CRT approximately US$4.4 million in indemnification damages and attorneys’ fees while also denying all claims brought against CRT by SLS Capital, S.A. (“SLS”).
Curtis represented CRT in this securities arbitration that arose from what the Financial Times has described as the “biggest individual fraud perpetrated on small investors in the UK” in the last two decades. Curtis’ representation of CRT also extends to the Chapter 15 bankruptcy proceeding of Luxembourg-based SLS and related litigation in New York Supreme Court.
From 2005−2007, CRT served as SLS’ advisor, during which time SLS raised approximately US$250 million worth of capital that was used to purchase life insurance policies issued by U.S. life insurance companies. After CRT resigned as SLS’ advisor, SLS’ controlling shareholder – David Elias – liquidated all of SLS’ assets and absconded with the proceeds. SLS was then put into liquidation in Luxembourg, and in 2014, SLS’ Liquidator initiated a FINRA arbitration against CRT and two of its former employees. The SLS Liquidator sought to recover over US$500 million from CRT, asserting claims for fraud, breach of fiduciary duty, breach of contract, and gross negligence on behalf of SLS.
In March 2018, the FINRA panel denied all of the SLS Liquidator’s claims against CRT, while awarding CRT over US$4 million in indemnification damages and an additional US$150,000 in attorneys’ fees as a sanction against SLS for discovery violations. Shortly after, CRT filed a petition in U.S. District Court for the Southern District of New York seeking confirmation of the award under the Federal Arbitration Act. On March 31, 2019, U.S. District Judge Vernon S. Broderick issued an opinion and order confirming CRT’s award against SLS and rejecting each of SLS’ arguments for vacatur.
Curtis has also secured a favorable decision for CRT in the U.S. bankruptcy court, where the SLS Liquidator originally applied for Chapter 15 recognition and permission to investigate claims against CRT and other U.S.-based parties. In response to an order to show cause brought by CRT, SLS’ Liquidator agreed to return approximately US$3 million of the assets collected in and removed from the United States without the consent of the court.
Curtis partner Nancy Delaney leads the team and is assisted by litigation associate Daniel Banaszynski.
The decision from the U.S. district court is attached.
Commercial Disputes - Litigation
Nancy E. Delaney
+1 212 696 6000
Trusts and Estates Associate Zachary Goldaber speaks before the Estate Planning Council of Westchester County
Simon Batifort and Andrew Larkin Speak at the European Society of International Law’s 2021 Annual Conference