A Manhattan federal court judge has confirmed an arbitration award holding the Julius Klein Group and four of its principals responsible for paying $209 million to LGC USA Holdings Inc.
Federal District Court Judge Jesse M. Furman on Monday entered judgment consistent with his opinion and order of Feb. 16 favoring LGC, an affiliate of the Leviev Group of Companies that is headed by Lev Leviev. In the final judgment, the judge noted that the arbitration award of June 30, 2016, was for $142.2 million, representing the face amount of the award of $111.9 million plus prejudgment interest at 9 percent from Feb. 15, 2014, up to Feb. 21, 2017. The federal court judgment also includes prejudgment interest in the amount of $27.9 million each day from Feb. 22 to Feb. 27, 2017, the date of entry of the final judgment.
Word first surfaced in September that Leviev’s firm had won an arbitration award in what was then called an ugly and bitter corporate divorce.
Leviev and the Julius Klein Group formed a joint venture in 2002 where Leviev said he had a 43.5 percent interest in KLG Jewelry. But the parties’ corporate divorce entailed much bickering. Given that the two are heavy
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