Azerbaijan Dodges Arbitration Award In Oil Dispute

Law360, New York (April 2, 2007, 12:00 AM EDT) -- Citing lack of jurisdiction, a U.S. federal court has dismissed a case against a state-owned oil company in Azerbaijan that declined to pay an arbitration award to Houston-based energy firm Frontera Resources Corp.

Issued March 29 in the Southern District of New York, the ruling was a setback in Frontera’s effort to enforce a $1.2 million arbitration award issued against the State Oil Company of the Azerbaijan Republic (SOCAR) in January 2006.

According to the complaint, filed in February 2006, the Swedish Arbitral Tribunal agreed with...
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