Investor Wins $1.8M Arb. Award Against Minerals Developer

Law360 (September 16, 2020, 4:50 PM EDT) -- An Oklahoma federal judge has granted a default judgment to enforce an Italian investor's nearly $1.8 million arbitration award in a dispute that arose after she pulled her interest in an American oil and gas development company.

The default judgment was granted on Tuesday by U.S. District Judge Timothy D. DeGiusti, who affirmed an Italian arbitration panel's opinion that Victoria Time Corp. must honor a contractual clause allowing investor Luisa Todini to sell her shares in the oil and gas company at a predetermined price should she decide to do so within the first few years of her investment.

The clause,...

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