CTSW Defeats Billion Dollar Lawsuit

A federal judge in New York dismissed a lawsuit against CTSW’s long-time client, Israel Aerospace Industries Ltd. (“IAI”).  IAI is globally recognized as a leader in developing military and commercial aerospace technology, and is one of Israel’s largest and most successful companies.  The dismissal is one of two major victories scored by CTSW and its co-counsel, Paul Weiss, on behalf of IAI in a series of ongoing and complex billion-dollar disputes.

Plaintiffs in the disputes are co-investors with IAI in ImageSat International N.V., a Netherlands Antilles company with its principal place of business in Israel, which provides high-resolution satellite earth-imagery.  The Plaintiffs sought to blame IAI and others for certain financial difficulties encountered by ImageSat. 

CTSW, together with co-counsel, moved to dismiss the action on many grounds, including forum non conveniens, arguing that the case should be tried, if at all, in Israel.  United States District Court Judge Denny Chin agreed with IAI’s position and dismissed the case in its entirety. 

This ruling follows an earlier federal court dismissal, secured by CTSW and Paul Weiss, of a virtually identical related lawsuit filed by different plaintiffs in the District Court, which decision later was affirmed by the United States Court of Appeals for the Second Circuit.