Court Forces Sale of Arbitration Award to Pay Biglaw Firm Fee
Law firm Dentons Europe LLP won Delaware court approval to have a former client’s $92 million arbitration award seized so that it can be paid for its legal services, reports Bloomberg Law.
The firm sued its former client, Customs and Tax Consultancy LLC (CTC), after CTC allegedly failed to pay for legal fees accrued in its arbitration victory against the Democratic Republic of the Congo.
The court sided with Dentons’ effort to get paid for its legal fees by having the court authorize arbitration award broker ClaimTrading Ltd. to seize the award and market it on behalf of CTC, explains Bloomberg’s Leslie A. Pappas.
Read the Bloomberg Law article.
