Chancery Sends Auto Sales Loan Collateral Suit To UkraineJanuary 4, 2016 – In The News
Ely Goldin was featured in the Law360 article “Chancery Sends Auto Sales Loan Collateral Suit To Ukraine.” Full text can be found in the January 4, 2016, issue, but a synopsis is below.
A lawsuit stemming from the accusation that a “Delaware-organized Ukrainian auto sales” business hid collateral on nearly $60 million of loans in foreclosure has been thrown out. The Delaware Chancery judge responsible for overseeing the case ruled that the dispute belonged to Ukraine.
Fox Rothschild’s Ely Goldin, who represented Development Max LLC in the matter, said he and his clients were pleased with the decision.
“Delaware law sets a very high bar for dismissal on [forum non conveniens] grounds and the ‘overwhelming hardship’ standard has only been met in a handful of cases,” Goldin said. “This decision addresses a number of important issues including how uncertainties in foreign law impact the [forum non conveniens] analysis and the level of deference afforded to a foreign litigant’s choice of forum.”