A federal judge confirms a $24.5M arbitration award under the New York Convention, clearing enforcement against sovereign bank assets. NY Judge Confirms Investment Co’s $24.5M Arbitration Award Open In the News Open August 26, 2020 2 minutes read Sequor Law A federal judge in the Southern District of New York confirmed a $24.5 million arbitration award in favor of Hong Kong based Super Perfect Investments Ltd. against Tajikistan’s Agroinvestbank Open Joint Stock Co. The decision came after the bank failed to respond to the enforcement petition by the August 17, 2020 deadline. Judge Jesse M. Furman found no genuine issue of material fact and granted summary judgment enforcing the award. The dispute stems from failed cotton supply contracts. In 2012, Agroinvestbank issued guarantees to Super Perfect tied to agreements for the purchase of 20,000 metric tons of cotton from Tajik company Levakan-M LLC. In February 2013, the bank issued an $11 million guarantee, which was later revised and split. When Levakan failed to deliver the cotton, Super Perfect sought payment under the $11 million guarantee. The bank refused, asserting that the original guarantee had been canceled and that a subsequent $6 million guarantee was never issued. In July 2017, a Swiss Chambers’ Arbitration Institution panel in Geneva ruled in favor of Super Perfect. The arbitrator determined that the revised $11 million guarantee remained valid and applied an 18% interest rate. The final award totaled $11 million in damages, $12.86 million in interest, and $739,668 in legal costs. Super Perfect petitioned the New York federal court to recognize the award under the New York Convention and Section 9 of the Federal Arbitration Act. The company argued that both the United States and Tajikistan are signatories to the Convention, giving the court subject matter jurisdiction. It also identified Agroinvestbank assets in the district, including a Citibank account, to establish quasi in rem jurisdiction and pursue enforcement. With no opposition filed, the court confirmed the award, clearing the way for enforcement against the bank’s U.S. assets. To read the full article, click here . Open Back to all Entries Share this article Facebook X (Twitter) WhatsApp LinkedIn Copy link Latest News & Insights Open Open Attorney Spotlight May 19, 2026 1 minute read Attorney Spotlight – Get to Know Noah Rosenblum 1. What inspired you to pursue a law career? I was drawn to law because I've always enjoyed solving complicated problems and thinking.. Attorney Spotlight May 9, 2026 2 minutes read Attorney Spotlight – Get to Know Michael Hanlon 1. What inspired you to pursue a law career? I was less drawn to law in the abstract and more.. Firm News Apr 11, 2026 2 minutes read Sequor Law Celebrates National Pet Day with Continued Support of Paws4You Rescue In recognition of National Pet Day, Sequor Law is proud to continue its support of Paws4You Rescue, a Miami-based nonprofit... Attorney Spotlight Jan 29, 2026 2 minutes read Attorney Spotlight – Get to Know Alain M. Acanda 1. What inspired you to pursue a law career? I was inspired to pursue a career in the law after having negative experiences with the law as.

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