No Arbitration Rights For PRSI In Loan Case: Texas Court

Law360, New York (August 26, 2011, 6:41 PM EDT) -- A Texas state appeals court on Thursday again found that PRSI Trading Co. LP had waived its rights to arbitration in its dispute with subsidiaries of Transcor Astra Group over $25.5 million in loans PRSI used to operate a Texas oil refinery.

PSRI has asked for a rehearing from the appeals court, which in May affirmed a lower court's ruling that PSRI could not compel arbitration in the dispute because the company had already waived that right.

The court overruled the motion for rehearing, withdrew its...
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