Venezuelan Iron Ore Producer Moves To Vacate $187M Award, Claims Improper Service

Mealey's (October 6, 2020, 12:56 PM EDT) -- MIAMI — A Venezuelan iron ore producer on Sept. 30 moved in a federal court in Florida to vacate the Sept. 23 default confirmation of an arbitral award against it for more than $187 million in a contract dispute with a British Virgin Islands commodities trading company, arguing that it was never properly served and that the arbitral rule under which service was allegedly effectuated is "overbroad" in scope and "draconian with respect to service of post-arbitration proceedings" (Commodities & Minerals Enterprise Ltd. v. CVG Ferrominera Orinoco, C.A., No. 19-25217, S.D. Fla.)....