Cayman Entities Petition To Confirm Chinese Tribunals’ Awards In New York

Mealey's (April 22, 2021, 3:46 PM EDT) -- NEW YORK — Two Cayman Island entities on April 13 filed a petition in a New York federal court to confirm two arbitral awards worth approximately $142 million issued by a Chinese tribunal against a Chinese businesswoman and three companies she allegedly controls, arguing that the court has jurisdiction to enforce the awards because the businesswoman purchased nearly $30 million worth of artwork from a New York auction house....