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

Fibo Quantum

By Humberto J. Rocha (April 18, 2022, 6:20 PM EDT) — A Las Vegas company that develops blockchain-powered technology urged a New York court to enforce a $27.3 million arbitral award against a South Korean LED component manufacturer that arose out of a dispute over a stock purchase agreement.

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

According to the petition, the two parties proceeded to arbitration after Monsoon accused Magic Micro of breaching a 2018 contract in which Magic Micro had…

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