Blockchain Co. Says $27M Award Must Be OK’d

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By Humberto J. Rocha (April 18, 2022, 6:20 PM EDT) — A Las Vegas firm that develops blockchain-powered expertise urged a New York court docket to implement a $27.3 million arbitral award towards a South Korean LED element producer that arose out of a dispute over a inventory buy settlement.

In a petition filed Thursday, Monsoon Blockchain Storage Inc. requested a New York federal court docket to compel Magic Micro Co. Ltd. to pay it the multimillion-dollar arbitral award that the American Arbitration Affiliation’s worldwide division rendered final April.

Based on the petition, the 2 events proceeded to arbitration after Monsoon accused Magic Micro of breaching a 2018 contract by which Magic Micro had…

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