A federal judge has rejected an attempt by a company that specializes in buying and selling investments in fine wines to force its dispute with a disgruntled New York investor into arbitration in the British West Indies.
Clauses in investment contracts Venulum Ltd. signed with investor Bernard Eisen compelling the settlement of disputes through arbitration based on the laws of the British Virgin Islands (BVI) are “unconscionable and void as against public policy,” U.S. District Judge Elizabeth Wolford of the Western District of New York ruled Monday in Eisen v. Venulum Ltd., 1:16-cv-00461.
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