Petrobras Can't Depose Arbitrator In $622M Award Row

By Michelle Casady (December 19, 2018, 9:47 PM EST) -- Petrobras was dealt a blow at a hearing in Houston on Wednesday in its bid to nix a $622 million arbitration award issued to Vantage Deepwater Co., which the Brazilian company claims is tainted by fraud, when a federal judge refused to allow Petrobras to depose a dissenting arbitrator.

U.S. District Judge Alfred Bennett also denied Petrobras' attempt to supplement the record with an order in the U.S. Securities and Exchange Commission's Foreign Corrupt Practices Act proceeding against Vantage, in which the company agreed to pay $5 million to end an investigation into payments to an outside director. The award was...

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