Judge Awards Energy Company Interest On Award At Federal Statutory Rate

HOUSTON - A Texas federal judge on Jan. 20 denied an energy company's request for post-judgment interest on an arbitration award issued in its favor at a rate of 8.5 percent, finding that the parties never agreed on a specific rate when they contracted for the purchase of xylene (MX) and that the company was entitled to post-judgment interest at the federal statutory rate (Tricon Energy Ltd. v. Vinmar International Ltd., No. 4:10-cv-05260, S.D. Texas; 2011 U.S. Dist. LEXIS 108491). Full story on lexis.com