Judge Releases $3M After Outcome Of Singapore Appeal, Refuses To Award Fees

Mealey's (March 15, 2018, 12:40 PM EDT) -- DETROIT — A Michigan federal judge on March 13 granted a Korean automotive company’s request for the release of a $3 million deposit it had posted pending its appeal of a Singapore arbitral award that was issued in favor of another company on its claims for breach of contract and misappropriation of trade secrets, finding nothing to support a finding that the company would be unable to pay possible amounts owed for royalties for a new product (Nexteer Automotive Corp. v. Korea Delphi Automotive Systems Corp., No. 13-CV-15189, E.D. Mich., 2018 U.S. Dist. LEXIS 40727)....