Environment & Energy

Vantage Deepwater $622 Million Award Avoids Supreme Court Review

Feb. 22, 2021, 2:52 PM

The U.S. Supreme Court won’t hear Petrobras America Inc.'s challenge to a $622 million arbitration award owed to Vantage Deepwater Co. after Petrobras canceled a drilling services agreement, the court announced Monday.

The justices’ decision means the court won’t consider whether enforcing the award violates U.S. public policy, as Petrobras claims.

The company terminated its contract with Vantage Deepwater in 2015, several years before the end of the term. Petrobras claimed Vantage breached the contract, and it said the agreement was invalid because it was “procured through bribery and corruption.” Enforcing the arbitration award requires Petrobras to pay damages based...

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