Judge Confirms $8.26M Arbitral Award, Says Fees Not Excessive

(February 23, 2020, 8:27 AM EST) -- LOS ANGELES — A federal judge in California on Feb. 3 confirmed an arbitral award issued by the Beijing Arbitration Commission, ordering the respondent to pay $8,269,265.05 plus post-judgment interest for violating a 2009 shareholders’ resolution, writing in the minutes of hearing on the petition and a tentative ruling that he disagreed with the respondents’ arguments that the award was excessive and that the arbitrators exceeded their authority (ITN Holdings Ltd. v. Dai Wei, No. 19-9483, C.D. Calif., 2020 U.S. Dist. LEXIS 19410)....