Olshan Achieves Favorable Arbitration Settlement for Firm Client in International M&A Dispute
Olshan recently litigated a case before the Singapore International Arbitration Center applying New York law to a dispute with a publicly-traded company’s failure to pay the final installment of a $70 million M&A contract for the purchase of a private business. The defaulting company sought to delay payment citing preservation of liquidity arising from the COVID pandemic. The case settled after Olshan filed its claim, selected an arbitrator and retained a leading expert on New York law. The case resolved successfully where the client obtained a settlement that included all delinquent M&A payments, damages and reimbursement of all legal expenses, which in total exceeded the maximum legal damages it would have been entitled to had it prevailed in the arbitration. Litigation partner Kyle Bisceglie and associate Tara Richelo worked with Globalaw Singapore member firm, Kelvin Chia and Shay & Partners, a Globalaw Taiwan member.