Summary

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The Petition for Confirmation of Foreign Arbitral Awards is supported by the record and unopposed. It is therefore GRANTED in its entirety.

The Court declines, however, to order injunctive relief until such time as Petitioners can show that Respondent is refusing to comply with this Court's orders after judgment has been entered. While the Court concludes that a worldwide asset freeze would be premature at this juncture, if Respondent delays in fulfilling its obligations, the Court will entertain a renewed motion for equitable relief on an expedited basis. Finally, the Court concludes that Petitioners are entitled to an award of attorneys' fees and costs. Respondent refused to pay Petitioners amounts due pursuant to clearly valid arbitral awards. It then forced Petitioners to bring this action, incurring more fees and costs for all parties. Respondent opposed Petitioners' original Petition and then dropped all arguments against confirmation and conceded that the awards should be confirmed once the Amended Petition was filed. This kind of dilatory behavior is exactly why fee awards exist, and Petitioners request is GRANTED.

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