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Smoothline Ltd. v. North American Foreign Trading Corp.

Too late for indirect owner to admit existence of records after court pierces corporate veil.

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Judge Cote

SMOOTHLINE LTD. v. NORTH AMERICAN FOREIGN TRADING CORP. — Universal Appliances, Ltd. (“UAL”) has moved for reconsideration of the December 27, 2002 Opinion and Order (“December 27 Opinion”) entered in this proceeding. The December 27 Opinion granted the motion by North American Foreign Trading Corporation (“NAFT”) to pierce the corporate veil of Smoothline Ltd. (“Smoothline”) and Greatsino Electronic Ltd. (“Greatsino”) to reach UAL, their indirect owner, and thereby to require UAL to arbitrate disputes arising from Smoothline contracts with and Greatsino guarantees to NAFT. At the heart of this motion for reconsideration is the extent and appropriateness of the reliance that the December 27 Opinion placed on the failure of UAL, Smoothline and Greatsino to produce, during the discovery period that preceded the motion, the standard accounting documents that are necessary to make the general ledgers that they did produce comprehensible.

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