2nd Circ. Upholds Order Tossing $57M Award Against Laos

By Natalie Olivo (July 20, 2017, 7:55 PM EDT) -- The Second Circuit on Thursday upheld a New York federal court's decision to vacate its own order enforcing a $57 million arbitral award against Laos after a Malaysian court set the award aside, finding an international enforcement agreement requires deference to the region where arbitration proceedings took place.

Thai-Lao Lignite (Thailand) Co. Ltd. and Hongsa Lignite (Lao PDR) Co. Ltd. had appealed U.S. District Judge Kimba M. Wood's February 2014 decision to vacate her August 2011 judgment enforcing the award, which relates to the termination of coal mining concessions. A Malaysian arbitral tribunal had issued the award and, in between Judge...

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