Stay Lifted In Petition To Confirm $1.2B Award Against State-Owned Indian Company

Mealey's (October 2, 2020, 1:26 PM EDT) -- SEATTLE — Addressing an issue of first impression in the Ninth Circuit, a federal judge in Washington state on Sept 17 granted a motion to lift the stay on an Indian company's petition to confirm an arbitral award now valued with interest at approximately $1.2 billion against a state-owned Indian corporation for breach of a satellite spectrum contract after finding that that no progress was made in a pending appeal of the award in India during the yearlong stay (Devas Multimedia Private Ltd. v. Antrix Corp. Ltd., No. 18-1360, W.D. Wash., 2020 U.S. Dist. LEXIS 171096)....