Law360 (June 1, 2021, 9:47 PM EDT) — An international committee has shaved off some $35.6 million from a $448.82 million arbitral award issued to a Bahamian oil company in a long-running dispute with Ecuador over the allocation of profits from two oil blocks in the Amazon, saying there was a lack of reasoning.
The International Centre for Settlement of Investment Disputes annulment committee concluded in its decision Friday that the tribunal that issued the award hadn’t properly explained why Perenco Ecuador Ltd. was owed $25 million in compensation for a “loss of opportunity” after its contract to operate one of the two oil blocks in question was terminated, since…
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Supreme Court Justice Neil Gorsuch rejected a request from two churches to block a Colorado law that lets the state issue emergency orders in the event of wildfires, earthquakes and other disasters. The Denver-area churches said high court intervention was warranted because the state had gone too far in using […]
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