Bank Says It Can't Be Forced To Arbitrate $136M Loan Row
Law360 (February 5, 2019, 5:06 PM EST) -- A Maltese bank urged a New York state court Monday to pause a $135.8 million arbitration initiated by a Curacao bank stemming from a dispute relating to a loan purchasing deal, saying it can't be forced to arbitrate because it never signed the underlying agreement.
IIG Bank Malta Ltd. is asking the court to permanently pause arbitration initiated by Girobank NV and Girobank International NV before the International Chamber of Commerce, in which it accuses Malta Bank and others of causing Girobank to purchase participation interests in loans that were falsely represented as financially sound. Girobank is seeking more than $135...
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