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Immersive Management Holdings v. Indigo Dragon Group and others

Immersive Management Holdings LLC v. Indigo Dragon Group (UK) Ltd., Kahlil Guzi Karmenu Piscopo and Ryan Kinghorn, JAMS Case No. 1220065786
Nature of the proceedings:
International
Type of case:
Commercial Arbitration
Economic sector:
67Financial and insurance activities
Financial service activities, except insurance and pension funding
Date of introduction:
20 July 2020
Status of the case:
Concluded
Claimant’s country of origin:
United States
Respondent's country of origin:
United Kingdom
Institution:
JAMS (Judicial Arbitration and Mediation Services)
Rules of arbitration:
Seat of arbitration:
Los Angeles
Applicable law:
Delaware (United States)

Documents of the case

Lawyers, other representatives, expert(s), tribunal’s secretary

    Order of the United States District Court for the Central District of California Granting Petitioner Immersive Management Holdings LLC’s Petition to Confirm Arbitration Award

    Having reviewed petitioner Immersive Management Holdings LLC's ("IMH") Petition to Confirm Arbitration Award (Dkt. 1), to which Indigo Dragon Group (UK) failed to respond, (see, generally, Dkt.); see Local Rule 7-9, IT IS HEREBY ORDERED as follows:

    1. IMH's Petition to Confirm Arbitration Award is granted;

    2. The Final Arbitration Award of the JAMS International Arbitration, dated September 22, 2021, which resolved Reference No. 1220065786 in all respects (the "Final Arbitration Award"), is confirmed;

    3. The hearing scheduled for April 14, 2022 is vacated; and the Motion for Default Judgment is denied as moot;

    4. Judgment shall be entered on the Final Arbitration Award as follows:

    a. Indigo Dragon Group (UK) Ltd. shall pay to Immersive Management Holdings LLC $45,000,000.00;

    b. Indigo Dragon Group (UK) Ltd. and Immersive Management Holdings LLC will each own 50% of the equity interests of Culture Fusion and have mutual approval over the business of Culture Fusion; and

    c. Indigo Dragon Group (UK) Ltd. shall pay to Immersive Management Holdings LLC Immersive Management Holdings LLC's fees and costs in the amount of $130,900.96.

    DATED: April 12, 2022

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