€21M Award Against San Leon Energy Enforced By Irish Court

Law360, New York (November 18, 2016, 4:35 PM EST) -- Subsidiaries of oil and gas explorer San Leon Energy have been ordered by the High Court of Ireland to pay a €21 million ($22.23 million) arbitration award to Avobone NV over a dispute involving an oil field investment because the court found no basis to set aside the award.

In a Nov. 11 order, Justice Brian J. McGovern said that the only argument against the underlying International Chamber of Commerce award put forward by the San Leon subsidiaries, including Aurelian Oil, which could have possibly upended it was deemed moot during subsequent proceedings, essentially leaving no reason not to enforce it....

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