Judge Confirms $30M Interest Award, Orders Briefing On Nonsignatories’ Liability

Mealey's (June 24, 2022, 1:08 PM EDT) -- HOUSTON — A Texas federal judge on June 22 confirmed an arbitral award in favor of a Texas company for nearly $30 million in pre-award interest, attorney fees and arbitration costs incurred disputing profits from an African oil concession against a British Virgin Islands (BVI) entity that previously agreed to pay more than $140 million, but said more briefing is needed to determine if the fee award is enforceable against several foreign nonsignatories as alter egos....