King & Spalding wins $350m award in Mexican case
King & Spalding LLP has secured a $350 million arbitration award against Mexico’s national oil company.
King & Spalding partners Robert Meadows in Houston and Charles Correll, Jr. in San Francisco represented Commisa, a subsidiary of U.S.-based KBR Inc. Commisa signed an agreement in 1997, with PEP, a subsidiary of Mexico’s national oil company, to build two large offshore natural gas platforms and other structures in the Bay of Campeche on the Gulf of Mexico. Commisa claimed PEP delayed and disrupted the construction and refused to pay for change orders.
The International Court of Arbitration of the International Chamber of Commerce awarded Commisa $350 million in damages, fees, expenses and interest.