Superior Energy Lands $4.5M Win In Arbitral Award Dispute

Law360 (July 1, 2019, 7:24 PM EDT) -- A New York federal judge has hit a Panamanian petroleum services company with a $4.5 million judgment in litigation over an arbitral award won by Superior Energy in a dispute stemming from a soured purchase agreement.

U.S. District Judge Andrew L. Carter Jr. on Friday confirmed a July 2018 award holding that Panama's Premium Petroleum Services S de RL and its owners had breached a $28 million agreement to sell an oil and gas services company to a subsidiary of Houston-based Superior Energy Inc., finding no "compelling reason" to vacate or alter the tribunal's findings.

Premium and its owners — Victor Augusto...

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