Gas Well Investor Says Tribunal Exceeded Powers By Slashing $4M From $10.5M Award

(October 21, 2022, 12:42 PM EDT) -- HOUSTON — A U.S. company moved in a Texas federal court to partially confirm and partially vacate an arbitral award issued in its dispute with a British Virgin Islands (BVI) entity over profits from gas wells in the Republic of Cameroon, arguing that the tribunal correctly awarded it $10.5 million under the parties’ agreement but erred by later granting the BVI entity’s request to issue an addendum reducing the award by more than $4 million....