Chinese Co. Says $558M Award In Ecuador Oil Fight Is Valid

By Latest World Report On Jun 30, 2022 74 0

By Clark Mindock (June 29, 2022, 8:01 PM EDT) — A Chinese-owned oil company told the Second Circuit that disqualifying an arbitrator behind a $558 million award would gum up the works in virtually every other arbitration proceeding.

Andes Petroleum Ecuador Ltd. argued in a brief Tuesday that no rules were broken when an arbitrator on the panel failed to disclose that he worked with counsel for Andes on a separate matter. Occidental Exploration and Production Co. has claimed the panel’s award, stemming from money Ecuador paid after shutting down an oil exploration project, is tainted by the “secret” relationship between arbitrator Robert Smit and Andes lead counsel Laurence Shore of…

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Chinese Co. Says $558M Award In Ecuador Oil Fight Is Valid

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