Law360 (May 20, 2020, 9:58 PM EDT) -- A German pipemaker has urged a New York federal court to vacate a €643 million ($702 million) arbitral award to a Berkshire Hathaway unit that claims it was duped into buying the manufacturer, saying arbitrators disregarded Delaware law barring damages for identical breach and fraud claims.
Manufacturer Schulz Holding GmbH & Co. KG and related entities asked the court Wednesday to vacate the award entirely because the tribunal ignored Delaware's "rehash doctrine" when it refused to dismiss the fraud claims lodged by Precision Castparts Corp. and its German subsidiary, PCC Germany Holdings GmbH. The tribunal knew the fraud claims in the...
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