Ukraine Oil Co. Can't Escape $147M Award In UK Court

By Mike LaSusa (March 31, 2020, 8:19 PM EDT) -- A London judge declined Tuesday to set aside an order enforcing a $147 million arbitral award issued to a U.S.-based Kuwait Energy subsidiary, saying the arguments of a Ukrainian oil company fighting the award had already been heard in other proceedings.

The oil company, Ukrnafta, had argued that there were procedural irregularities in an arbitration in Sweden that led to the $147 million award in favor of Carpatsky Petroleum Corp., but the judge said a Texas federal court had already weighed in on that issue.

"Most of the aspects of Ukrnafta's argument in front of the Texas court on this point...

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