2nd Circ. Goes Against The Grain In Pemex Ruling

The Second Circuit's Tuesday decision confirming a KBR subsidiary's approximately $300 million arbitration award in a contract dispute with Mexico's national oil company bucks the trend of courts typically refusing to enforce awards that have been annulled.

A three-judge panel determined that a New York federal judge had not abused his discretion by confirming the award — even after it had been annulled in Mexico — because not doing so would run counter to U.S. public policy and would be “repugnant to fundamental notions of what...

Already a subscriber? Click here to view full article