This dispute arises out of the claim by 245 Park Member LLC, Claimant that HNA Group (International) Company Limited, Respondent, breached the Guaranty entered into by the parties by failing to pay on demand more than $180 million. A demand for Arbitration with JAMS was filed on December 21,2021 and an "Answering Statement And Objections" on January 24, 2022. The Demand and Answer seek a determination of the claim.
The Arbitrator was selected as sole arbitrator pursuant to the arbitration provision contained in Section 5.4 of the Amended and Restated Guaranty. The Arbitrator was appointed on January 20, 2022, and the matter proceeded under the JAMS Streamlined Arbitration Rules and Procedures and 5.4 of the Guaranty. The arbitration and Guaranty are "governed by and construed in accordance with the substantive laws of the State of New York." (5.3 Governing Law of the Guaranty).