Media Coverage
Source: Law360, Global Arbitration Review
Media Coverage
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
10.10.22
U.S. District Court Judge Katherine Polk Failla rejected numerous challenges by the owner of a Chinese movie theater company to the $457 million awarded in an arbitration to three investors represented by Pillsbury. The investors alleged they had been “burned” in a failed IPO, according to Law360.
The original award was issued in April 2021. Judge Failla said the arbitral proceedings did not lack “fundamental fairness” and that the challenger “was afforded reasonable notice and ample opportunities to present his evidence and arguments.”
The case stemmed from a series of deals in which the three investors purchased 1.5 billion yuan ($208 million) worth of equity in Chengdu Run Yun Culture Communication Co. Ltd. ahead of its stock market listing.
The investors, Huzhou Chuangtai Rongyuan Investment Management Partnership, Huzhou Huihengying Equity Investment Partnership and Huzhou Huirongsheng Equity Investment Partnership, were advised by Pillsbury Litigation partners Geoffrey Sant, Ron Cheng and Andrew C. Smith, and counsel Carol Lee.
The case is Huzhou Chuangtai Rongyuan Investment Management Partnership et al. v. Qin, 1:21-cv-09221, in the U.S. District Court for the Southern District of New York.
To read more about the case, click here.