Law360 (December 23, 2020, 4:16 PM EST) — Business groups including the U.S. Chamber of Commerce have told the Second Circuit it must enforce Exxon and Shell units’ $2.7 billion arbitral win against Nigeria’s state-owned oil company, arguing courts don’t have “unbridled authority to shred an international arbitral award” to protect local interests.
In an amicus brief Tuesday, the National Foreign Trade Council and the National Association of Manufacturers joined the Chamber of Commerce in defending ExxonMobil Corp. and Royal Dutch Shell PLC units’ right to the sum they were awarded following a dispute with Nigeria’s state-owned oil company over a deepwater drilling deal. The groups argued a Nigerian court…
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