High court splits on ‘fugitive disentitlement’ award

Trial Notebook

By Steven P. Garmisa

Hoey & Farina

Posted November 13, 2023 11:49 AM

An arbitrator awarded $57 million to Iftikar Ahmed’s former employer after ruling that the “fugitive disentitlement doctrine” blocked him from contesting liability for alleged fraud. And the Connecticut Supreme Court split 4-3 when reviewing an order that confirmed the award.Ahmed reportedly fled to India after he was arrested for insider trading. His employer, Oak Management Corp., alleged fraud and breach of fiduciary duty in the arbitration proceedings.Under Ahmed’s employment agreement, the arbitration was in …

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