The St. James Bank & Trust Company Ltd. ("St. James"), Omega & Corinth Group Ltd. and Marc Wade today announced that the U.S. District Court has granted their motion to compel arbitration and stay all court proceedings in California brought by Scilex Holding Company ("Scilex")..

The federal court found that the Loan Agreement between Scilex and St. James contains a valid and enforceable arbitration clause, binding arbitration in Nassau, Bahamas - as specified in the agreement - is the appropriate forum for resolving all disputes and expressly ruled, after a complete review of the record from both sides, that there was no fraud in the execution of the Loan Agreement.

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