Murchinson Erases $100 Million Loss Over Arbitration Fraud (1)

Murchinson Ltd. scored an unusual court victory, wiping out a $100 million arbitration award won by a European shipping family that partnered with the Canadian hedge fund on a Liberian oil tanker business.

Judge Lewis J. Liman ruled for Murchinson affiliate Levona Holdings Ltd. on Monday, slamming a trio of Greek cousins for a brazen perjury scheme that enlisted at least one high-powered attorney. They prevailed in those proceedings—which targeted the planned $262 million sale of 12 maritime vessels—by persuading an arbitrator Levona had no authority to arrange the transaction after the cousins bought out its stake and transferred corporate ...