After a two-week arbitration hearing, we obtained an award in favor of our clients Toby Shor and the Seashore Investments Management Trust against PBF Investments, Inc, Paul Black, and a number of related entities, in a dispute involving jointly-owned oil and gas and real estate businesses. A panel of three arbitrators awarded our clients more than $31 million against Mr. Black individually, and more than $26 million against his affiliated entities. The arbitrators ruled in our client’s favor on all claims, including claims for breach of contract, breach of fiduciary duty, and fraud. In addition, the arbitrators found that all claims asserted against our clients were without merit. Mr. Black and his entities filed the arbitration and sought more $64 million in damages from our clients on their claims, but were awarded nothing.