5th Circ. Enforces $63M Award Over Soured Wind Energy JV
By Caroline Simson (January 7, 2020, 7:51 PM EST) -- The Fifth Circuit on Tuesday affirmed a ruling enforcing a $62.9 million arbitral award against the American arm of China's state-run aerospace corporation, rejecting arguments that the arbitration had been unfairly manipulated by other investors in a failed wind energy joint venture.
The award in question was issued to the aggrieved investors of Soaring Wind Energy LLC after a tribunal determined that Catic USA Inc. had breached an exclusivity provision in the parties' agreement by pursuing wind power projects outside of the JV.
Catic USA, which has corporate ties to the company that operates China's state-run aviation industry, had argued in...
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