2nd Circuit Revives $2.7B Award Fight, Citing Nigerian Courts’ Partial Set-Aside

Mealey's (July 13, 2022, 11:16 AM EDT) -- NEW YORK — A Second Circuit U.S. Court of Appeals panel on July 8 affirmed in part and vacated in part a district court’s denial of an oil company’s petition to confirm an arbitral award worth more than $2.7 billion against a Nigerian state agency, finding that the court erred by vacating the entire award, including portions that were reinstated by a Nigerian appellate court, and affirming its finding of jurisdiction over the Nigerian agency....