In SDNY Bench Trial About Sindh High Court Ruling and Bank of America Account Plods On

In SDNY Bench Trial About Sindh High Court Ruling and Bank of America Account Plods On by Matthew Russell Lee, Patreon Book Substack SDNY COURTHOUSE, May 26 – There is a bench trial proceeding in SDNY which even the presiding judge jokes is boring. Inner City Press went to cover it midday on May 26, leading to the judge's joking verdict.    The case is TRG International v. Chishti. The Resource Group International Limited (TRG-I) is a Bermuda-based holding company that invests in technology companies. Its largest shareholder affiliate, TRG Pakistan Limited (TRG-P), is based in Pakistan. Muhammad Ziaullah Khan Chishti was the former Chairman and director of TRG-I and former CEO and director of TRG-P.  In November 2021, Chishti resigned from his positions at TRG-I and TRG-P shortly after allegations against him became public.  Later Chishti moved for relief saying that the highest court of the province of Sindh, Pakistan, rendered a decision — the effect of which seems to have been subsequently stayed by the Supreme Court of Pakistan — in which the High Court of Sindh concluded that the affairs of TRG-P had been managed fraudulently and in a manner oppressive to certain shareholders, including Chishti.  Chishti argued those Pakistani findings warranted vacatur of the arbitration award. TRG-I moved on the question of whether Chishti made fraudulent transfers to frustrate enforcement of the judgment. Rakoff found there were disputed issues of material fact on that question requiring trial. The case was originally set for a jury trial, but the interested party withdrew her jury demand in May 2026, converting it to a bench trial. Judge Rakoff scheduled the bench trial for May 26-28, with nine hours of witness testimony per side, and proposed findings of fact and conclusions of law due June 5.    Judge Rakoff said, I see that my favorite reporter has come in, apparently so hungry for a story he even came to this boring case. But he'll disappointed - we are breaking for lunch.  Never disappointed.  The case is TRG International v. Chishti, 1:25-cv-1021 (Rakoff) *** Your support means a lot. As little as $5 a month helps keep us going and grants you access to exclusive bonus material on our Patreon page. Click here to become a patron. Feedback: Editorial [at] innercitypress.com Mail: Box 130222, Chinatown Station, NY NY 10013 Other, earlier Inner City Press are listed here, and some are available in the ProQuest service, and now on Lexis-Nexis.  Copyright 2006-2026 Inner City Press, Inc. To request reprint or other permission, e-contact Editorial [at] innercitypress.com