Exxon, BP, Noble Oil Dispute Gets 3 Arbitrators: 5th Circ.

Law360, New York (July 31, 2012, 4:18 PM EDT) -- The Fifth Circuit on Tuesday overturned a lower court's decision to convene a five-member arbitration panel to settle a services contract dispute between BP PLC, ExxonMobil Corp. and Noble Corp. and ordered the court to limit the panel to three arbitrators.

The panel said that the plain language of the contract between BP, ExxonMobil and Noble requires any dispute proceeding to arbitration to be heard by a three-judge panel. District Court Judge Vanessa D. Gilmore had ruled in May 2011 that each of the three companies...
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