January 9, 2020 / 1:02 PM / 14 days ago

5th Circuit signs off on $62.9 million arbitral award for Texas wind energy co

A federal appeals court has said the U.S. subsidiary of China’s state-owned Aviation Industry Corporation (AVIC) must pay a $62.9 million arbitral award to a Texas-based wind energy company for breaching the contract that set up the failed joint venture.

A three-judge panel of the 5th U.S. Circuit Court of Appeals on Tuesday affirmed a district court ruling rejecting Catic USA’s arguments that the arbitration panelthat heard the dispute was unfairly constituted and the court lacked jurisdiction to confirm the award it issued for Soaring Wind Energy LLC.

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

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