5th Circ. Says Castex Can't Arbitrate Contract Spat

Law360, New York (August 3, 2010, 3:39 PM EDT) -- Castex Energy Inc. has lost its appeal of an order denying its efforts to compel arbitration in a breach of contract dispute with a Mirant Corp. entity over mineral property rights.

A three-judge panel in the U.S. Court of Appeals for the Fifth Circuit ruled Monday that Castex had previously invoked the judicial process and had otherwise waited too long to try to push the matter with MC Asset Recovery LLC into arbitration.

The judges agreed with Judge Terry Means of the U.S. District Court for...
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