August 1, 2019 / 1:32 AM / 4 months ago

Petrobras can’t force EIG to arbitrate claims for ‘Operation Car Wash’ losses, judge rules

Brazil’s state-run oil company Petróleo Brasileiro waited too long to seek arbitration of a $221 million lawsuit that EIG Global Energy Partners filed over losses it sustained in the wake of an investigation that uncovered graft and corruption at Petrobras, a federal judge in Washington, D.C. held on Tuesday.

U.S. District Judge Amit Mehta found that Petrobras had forfeited the right to arbitrate the 2016 lawsuit by waiting until April 2019 to claim it – years that Petrobras spent on an unsuccessful quest to convince Mehta, an appeals court and finally the U.S. Supreme Court that it could not be sued in the United States.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2YB9cBe

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