Cessna Finance Corporation v. Al Ghaith Holding Company PJSC

Filing 105

JUDGMENT: NOW, it is hereby, ADJUDGED and DECREED: that Petitioner CesFin Ventures LLC shall recover from, and immediately execute against, Respondent Al Ghaith Holding Company PJSC: (i) the principal amount of $41,168,134.19 owed under the Final Award, dated October 26, 2015, with simple interest at the rate of 1.5% per month from September 2014 until the date of payment of the amounts owed under the Final Award; (ii) costs and fees in the amount of $530,000, plus simple interest accruing at the rate of 1.5% per month from October 26, 2015, the date of the Final Award, until the date of payment of the amounts owed under the Final Award and the Judgment; and (iii) 75% of Cessna's legal fees and othe r expenses incurred in connection with the arbitration in the amount of $1,503,839.91, plus simple interest accruing at 1.5% per month from October 26, 2015, the date of the Final Award, until payment of the amounts owed under the Final Award and the Judgment, and that Petitioner CesFin Ventures LLC shall have execution of the amounts owed under the Final Award and the Judgment. (Signed by Judge Paul G. Gardephe on 5/17/2021) Al Ghaith Holding Company PJSC terminated. (ks)

Case 1:15-cv-09857-PGG-KNF Document 102 Filed 05/06/21 Page 1 of 3

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
CESFIN VENTURES LLC,
Petitioner,

15 Civ. 9857 (PGG) (KNF)

v.
[PROPOSED] JUDGMENT
AL GHAITH HOLDING COMPANY PJSC,
Respondent.
Cessna Finance Corporation (“Cessna”), having filed a petition (the “Petition”) on
December 17, 2015, pursuant to 9 U.S.C. § 201 et seq., to confirm an arbitration award (the “Final
Award”) issued on October 26, 2015 by the International Court of Arbitration in the International
Chamber of Commerce in favor of Cessna and against Respondent Al Ghaith Holding Bank PJSC
(“AGH”), in the principal amount of $41,168,134.19 together with: (i) simple interest at the rate
of 1.5% per month from September 2014 until the date of payment of the amounts owed under the
Final Award; (ii) costs and fees in the amount of $530,000, plus simple interest accruing at the rate
of 1.5% per month from the date of the Final Award until the date of payment of the amounts owed
under the Final Award; and (iii) 75% of Cessna’s legal fees and other expenses incurred in
connection with the arbitration in the amount of $1,503,839.91, plus simple interest accruing at
1.5% per month from the date of the Final Award until payment of the amounts owed under the
Final Award, and the Court having fully considered both the Petition and AGH’s cross-motion to
vacate the Final Award, and the Court having issued an Opinion and Order on May 7, 2019 (the
“Opinion and Order”), granting the Petition seeking confirmation of the Final Award and
denying AGH’s cross-motion to vacate the Final Award, and for the reasons set forth in the
Opinion and Order, the Clerk of the Court having entered a judgment on May 8, 2019 in favor of

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Case 1:15-cv-09857-PGG-KNF Document 102 Filed 05/06/21 Page 2 of 3

Cessna and against AGH (the “Judgment”) and closing the case, and Cessna having assigned to
Petitioner CesFin Ventures LLC (“CesFin”), pursuant to a Confirmation of Assignment of Award
and Judgment dated October 25, 2019 (the “Assignment”), all of Cessna’s rights, title and interest
in both the Final Award and the Judgment, together with all the rights, interests or remedies relating
to such Judgment, and the Court having issued an Order on February 16, 2021, substituting CesFin
for Cessna as the Petitioner in this action, and AGH not having paid any of the amounts owed
under the Final Award and the Judgment;
NOW, it is hereby,
ADJUDGED and DECREED: that Petitioner CesFin Ventures LLC shall recover from, and
immediately execute against, Respondent Al Ghaith Holding Company PJSC: (i) the principal
amount of $41,168,134.19 owed under the Final Award, dated October 26, 2015, with simple
interest at the rate of 1.5% per month from September 2014 until the date of payment of the
amounts owed under the Final Award; (ii) costs and fees in the amount of $530,000, plus simple
interest accruing at the rate of 1.5% per month from October 26, 2015, the date of the Final Award,
until the date of payment of the amounts owed under the Final Award and the Judgment; and (iii)
75% of Cessna’s legal fees and other expenses incurred in connection with the arbitration in the
amount of $1,503,839.91, plus simple interest accruing at 1.5% per month from October 26, 2015,
the date of the Final Award, until payment of the amounts owed under the Final Award and the
Judgment, and that Petitioner CesFin Ventures LLC shall have execution of the amounts owed
under the Final Award and the Judgment.

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Case 1:15-cv-09857-PGG-KNF Document 102 Filed 05/06/21 Page 3 of 3

Dated: New York, New York
__________________, 2021
May 17

ENTERED:

HON. PAUL G. GARDEPHE
UNITED STATES DISTRICT JUDGE
SOUTHERN DISTRICT OF NEW YORK

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