London Court Upholds $22M Award For Stolen Asset Hunter

Law360 (July 12, 2019, 5:05 PM EDT) -- A London court upheld a roughly $21.6 million arbitral award issued to a company that Pakistan hired to track down assets stolen by government officials, concluding Friday that there was no “serious irregularity” in the tribunal’s decision.

The High Court of Justice refused to upset Broadsheet LLC’s award, rejecting Pakistan’s assertion that the arbitrator failed to fully explain why he awarded the company $19 million relating to the recovery of assets tied to former Prime Minister Nawaz Sharif, who is currently jailed on corruption charges.

“By requiring a further explanation of how aspects of the evidence were dealt with, the court...

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