Summary

Appeal from an order of the United States District Court for the Southern District of New York (Cote, J.) reducing an order of attachment in aid of arbitration. The district court had initially granted an ex parte order in favor of petitioner-appellant, an Iraqi cell phone company, attaching up to $100 million of the assets of respondent-appellee, a Lebanese bank. Thereafter, the district court exercised its discretion and reduced the amount of the attachment to $3 million in part because of concerns the attachment would have an adverse impact on the Lebanese economy. The Iraqi cell phone company appeals. AFFIRMED IN PART, VACATED IN PART, AND REMANDED.