2nd Circuit Finds Tribunal Did Not Disregard UAE Law, Affirms Nearly $52M Award

Mealey's (April 23, 2021, 12:32 PM EDT) -- NEW YORK — A Second Circuit U.S. Court of Appeals panel on April 22 affirmed a district court’s confirmation of an arbitral award worth nearly $52 million against a United Arab Emirates (UAE) company for defaulting on three aircraft leases after rejecting the company’s arguments that the tribunal acted in manifest disregard of UAE law....