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US Says District Court Erred In Recognizing $1.6B Award

By Hannah Sheehan (March 31, 2016, 8:52 PM EDT) -- The U.S. government weighed in on Exxon Mobil Corp.'s bid to enforce a $1.6 billion arbitration award ordered against Venezuela for expropriating the company's assets, telling the Second Circuit Wednesday that federal courts are not permitted to "borrow" procedures from state laws in order to speed up proceedings....

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