$640M Award To Transcor In Petrobras Fight Confirmed

By Shannon Henson

Law360, New York (March 11, 2010, 6:51 PM ET) -- A federal judge has confirmed an approximately $640 million award for a Dutch subsidiary of Transcor Astra Group in a partnership dispute with the U.S. subsidiaries of Petroleo Brasileiro SA involving a Texas oil refinery.

Judge Ewing Werlein Jr. of the U.S. District Court for the Southern District of Texas confirmed in an order Wednesday an arbitration panel's finding that dismissed Petrobras America Inc.'s claims and awarded about $640 million and attorneys' fees and expenses to Astra Oil Trading NV and some of its U.S. affiliates....
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