Judge Stays Petition, Finds Validity Of Awards Should Be Determined In Mexico

NEW YORK - A New York federal judge on Oct. 17 stayed a petition to confirm two arbitration awards, including a $311 million damages award, finding that a Mexican court should determine the validity of the awards under Mexican law (Conproca S.A. DE C.V. v. Petroleos Mexicanos and Pemex Refinancion, No. 11-9165, S.D. N.Y.; 2013 U.S. Dist. LEXIS 150141).

Access this news story on lexis.com®