$15B TransCanada Arbitration Paused Amid Keystone Reboot

Law360, New York (February 28, 2017, 3:56 PM EST) -- TransCanada Corp. on Monday suspended its $15 billion North American Free Trade Agreement arbitral claim against the U.S. over its cross-border permit denial for the Keystone XL pipeline, having reapplied for the permit at the urging of President Donald J. Trump.

TransCanada had formally launched its arbitration in June 2016, after former President Barack Obama in November 2015 rejected the controversial pipeline to ship oil sands from Canada to refineries on the Gulf Coast. However, the proceeding has been suspended until March 27, according to a Monday entry in the case records at the International Centre for Settlement of Investment Disputes,...

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