Asset Freeze Over $14M London Award Unneeded, Court Told

Law360 (October 30, 2019, 7:54 PM EDT) -- A man whose former business associate is seeking to confirm arbitral awards from London worth $14 million over unpaid loans pressed a New York federal court Tuesday not to issue an injunction preventing him from transferring assets.

Yuri Drukker and his Cyprus-based companies, Stubrick Ltd. and WJ Holding Ltd., said his former associate Alex Spiegel’s request for an injunction is not needed and should be denied.

Spiegel and his companies, Mazlin Trading Corp. and Shireen Maritime Ltd., moved in August to confirm awards over unpaid loans issued against Drukker and his companies by the London Court of International Arbitration, and also asked...

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