Venezuela Tells 5th Circ. $138M Award Can't Be Enforced
Law360 (June 30, 2020, 7:07 PM EDT) -- Venezuela's defense ministry is urging the Fifth Circuit to overturn an order enforcing a $138 million arbitral award to a U.S. military shipbuilder, arguing that a lower court improperly barred the parties from arbitrating the dispute in Caracas, the venue agreed upon in their 1997 contract.
The ministry told the circuit court on Monday that the award should never have been enforced because it was issued in violation of its $315 million contract with Huntington Ingalls Inc. to refurbish two frigates for the Venezuelan navy. Instead of proceeding in Caracas, the arbitration bounced from Mexico City to Washington, D.C., before a...
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