Petrobras Says Don't Pause $400M Suit For Arbitration

Law360, New York (August 10, 2017, 4:38 PM EDT) -- Petrobras America Inc. and certain underwriters at Lloyd's of London urged a Texas federal court on Wednesday not to send to arbitration their $400 million dispute with Vicinay Cadenas SA over an allegedly defective component used in Petrobras’ offshore oil and gas operations, saying Petrobras never signed the underlying arbitration clause.

Petrobras and the underwriters, who first filed the suit more than five years ago, accuse Vicinay, a Spanish company, of manufacturing a defective tether chain that Petrobras used in an oil field in the Gulf of Mexico. The...
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