February 2017
Stars Align As Second Circuit Limits Orion

The Second Circuit recently reversed and remanded for further proceedings a S.D.N.Y decision dismissing claims asserted by Polsinelli clients CBF Indústria de Gusa S/A, Da Terra Siderúrgica LTDA and several other Brazilian companies (Plaintiffs) under the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York Convention) and under theories of fraud and fraudulent conveyance. Plaintiffs are seeking to enforce a $48 million foreign arbitration award (Award) by the International Chamber of Commerce in Paris against Defendants Hans Mende, Fritz Kundrun, and companies they control, who Plaintiffs alleged were the alter-egos of the Swiss company, Steel Base Trade AG, against whom the Award was initially issued.

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