2nd Circ. Seems Wary Of Enforcing Nixed $2.7B Nigeria Award

Law360 (January 22, 2021, 8:56 PM EST) -- A Second Circuit panel appeared disinclined on Friday to completely enforce an annulled $2.7 billion arbitral award against Nigeria's state-owned oil company, as one judge expressed apparent frustration over the "remarkably general" rule allowing courts to do so in certain circumstances.

Units of ExxonMobil Corp. and Royal Dutch Shell PLC are urging the Second Circuit in the appeal to reverse a September 2019 ruling that refused to enforce the $1.8 billion award, which was worth approximately $2.7 billion with interest as of late 2018.

ExxonMobil subsidiary Esso Exploration and Production Nigeria Ltd. and Royal Dutch Shell subsidiary Shell Nigeria Exploration and Production...

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