Gaikwad v. Gotham Resources - $1.6M Arbitration Award Confirmed

IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE

Petitioner,

2025-1396-DG ,

ORDER GRANTING DEFAULT JUDGMENT AND CONFIRMINGARBITRATION AWARD WHEREAS:

1. On May 2, 2025, an arbitration panel issued a final arbitration award (the "Award") that resolved a dispute between the parties to this action. The Award totals $1,645,180.49 in monetary relief, plus post- 1 judgment interest at the legal rate. 2

SUJIT GAIKWAD, ) ) ) ) ) ) See generally Dkt. 1 Ex. C. JASON A. GILBERT, GOTHAM )C.A. No. 1 RESOURCES DEVELOPMENT ) See Dkt. 1 Ex. C at 9-10. 2CO., LLC, LIPPELMANN ) PARTNERS, LLC, and GREAT ) PLAINS PETROLEUM, LLC) ) Respondents. )

1. On December 1, petitioner Sujit Gaikwad ("Gaikwad") filed this
   action to confirm and enforce the Award. Despite being served with 3 process, no Respondent has appeared or responded to this action. 4

2. On February 14, 2026, Gaikwad moved for default judgment,
   seeking to confirm the arbitration award. 5

IT IS ORDERED, this 2nd day of April, 2026, that:

1. The Award is governed by the FAA because the arbitration agreement does not specifically reference the Delaware Uniform Arbitration Act. Under the FAA, the court "must grant" a request to confirm an 6 arbitration award unless the award is vacated, modified, or corrected under Sections 10 or 11 of the FAA. Parties seeking to vacate, modify, or correct 7 an arbitration award must do so within three months of the award's issuance. 8 Once that three-month period expires, those forms of relief are unavailable and the court "must grant" confirmation of the arbitration award. 9

Dkt. 1. 3 See Dkts. 4-13. 4 Dkt. 14. 5 See 10 Del. C § 5702(a), (c); Dkt. 1 Ex. A § 11.6. 6 9 U.S.C. § 9. 7 See id. § 12. 8 Id. § 9; see Gulf LNG Energy, LLC v. Eni USA Gas Marketing LLC, 242 A.3d 575, 9 584 (Del. 2020) (citations omitted).

1. The arbitration panel entered the Award on May 2, 2025. 10
   Because Respondents did not seek vacatur, modification, or correction of the Award within three months of May 2, 2025, they cannot oppose Petitioner's request, and the Court must confirm the Award.

2. I GRANT the motion for default judgment and CONFIRM the
   arbitration award. 11

3. This is a Final Report under Court of Chancery Rule 144.
   Exceptions may be taken within 11 days of this order's entry.

Compl. Ex. C at 12. 10 See 9 U.S.C. § 13 ("The judgment so entered shall have the same force and effect, 11 in all respects, as, and be subject to all the provisions of law relating to, a judgment in an action; and it may be enforced as if it had been rendered in an action in the court in which it is entered.").

Magistrate in Chancery /s/ Danielle Gibbs