KGK Diamonds Wins Court Battle in New York

New York: A New York Supreme Court judge ruled in favor of KGK Diamonds, awarding the Indian sightholder a judgment of $2.4 million plus interest against Madison Avenue Diamonds, the company behind the Ivanka Trump Fine Jewelry brand, for breach of contract, in a court battle that dragged on for nearly three years, reports JCKonline.

Both parties had agreed to a settlement in 2012 by which KGK would submit certain files within 45 days, while Madison Avenue Diamonds would pay a total of US$ 3 million in unpaid bills. When the files weren’t remitted to Madison Avenue Diamonds on time, the company claimed it wasn’t obliged to pay the US$ 3 million. The case attracted much attention because Madison Avenue claimed the products delivered by KGK Diamonds were below standard and may have included synthetic instead of natural diamonds.