2nd Circuit Says Court Erred By Only Attaching $3M Of Lebanese Bank’s Assets

Mealey's (August 8, 2022, 1:53 PM EDT) -- NEW YORK — A Second Circuit U.S. Court of Appeals panel on Aug. 5 affirmed in part and vacated in part a district court’s order allowing a Kuwaiti-French joint venture to only attach $3 million of a Lebanese bank’s assets pending a new arbitral claim against the bank for $97 million in damages, finding that the judge failed to consider whether ordering a higher attachment would have been appropriate and erred in finding the joint venture unlikely to succeed in the new arbitration....