Paul, Weiss secured another major victory for Citigroup Inc.
against the Abu Dhabi Investment Authority (ADIA). In 2009, ADIA
commenced an arbitration in the International Centre for Dispute
Resolution, claiming that Citigroup had fraudulently induced ADIA
to invest $7.5 billion in the bank. ADIA sought rescission of the
$7.5 billion investment agreement or, alternatively, more than $4
billion in damages. After a month-long hearing in May 2011, the
three-person arbitration panel found for Citigroup on all claims.
ADIA then brought a petition to vacate the award in New York State