5th Circuit Affirms Confirmation Of $147M Award Against Ukrainian Oil Company

Mealey's (April 17, 2020, 10:47 AM EDT) -- NEW ORLEANS — A Fifth Circuit U.S. Court of Appeals panel on April 6 affirmed a district court’s confirmation of a $147 million arbitration award in favor of a petroleum company, holding that the company’s allegedly undisclosed change in place of incorporation from Texas to Delaware did not void its arbitration agreement with a Ukrainian company, that the arbitration followed due process and that the Ukrainian company is precluded from continuing to pursue related claims under state law (OJSC Ukrnafta v. Carpatsky Petroleum Corp., et al., No. 19-20011, 5th Cir., 2020 U.S. App. LEXIS 10737)....