Hong Kong Arbitration Award Properly Enforced in US Dollars

Challenges under the New York Convention to an arbitration award from Hong Kong that was designated in Renminbi—China’s official currency—but enforced in US dollars, were properly dismissed by the district court, the Fourth Circuit said Thursday.

The lower court “appropriately disposed of the obstacles” Stephany Yu placed before it, said Judge Paul V. Niemeyer in an opinion for the US Court of Appeals for the Fourth Circuit.

The estate of Yu’s business partner obtained the award to settle disputes over the operation of their business, Oasis Investment Group Ltd., which was created to develop real estate in China. Yu offered ...