Russian Award-Creditor Can’t Sue Under RICO For Unpaid $92M Award, High Court Told

Mealey's (March 1, 2023, 1:17 PM EST) -- WASHINGTON, D.C. — A Russian award-debtor residing in California and a Monaco bank tell the U.S. Supreme Court in a joint merits brief that the Ninth Circuit U.S. Court of Appeals wrongly approved a Russian citizen’s Racketeer Influenced and Corrupt Organizations Act (RICO) lawsuit against them for evading enforcement of a $92 million arbitral award, writing that the Ninth Circuit deepened a circuit split and that Congress didn’t intend for RICO to “turbocharge” award enforcement proceedings....