Judge Confirms $51.7M Award Against UAE Entity Over Failed Aircraft Leases

(May 9, 2019, 1:06 PM EDT) -- NEW YORK — A New York federal judge on May 7 granted a petition to confirm a $51,747,681.96 arbitral award issued in favor of a lessor of three aircrafts and rejected a United Arab Emirates (UAE) joint stock company’s petition to vacate the award, holding that the arbitrators properly applied UAE law in making the award (Cessna Finance Corporation v. AL Ghaith Holding Company PJSC, No. 15-9857, S.D. N.Y., 2019 U.S. Dist. LEXIS 77525)....