High Court Defers $392M Award Challenge After Parties Settle Oil Dispute

(March 18, 2024, 11:29 AM EDT) -- WASHINGTON, D.C. — The U.S. Supreme Court on March 18 granted a joint motion to defer consideration of a U.S. oil company’s petition for a writ of certiorari challenging the affirmance of an award against it worth more than $392 million in favor of an oil investor owned by a Chinese company issued in relation to a $1 billion Ecuadorian oil dispute involving the parties, after the parties jointly moved to defer consideration citing a settlement of their dispute....