A long-running dispute with a self-unloading bulker at its centre is winding down after an appeals court upheld a $12.7m New York arbitration award won by miner Commodities and Minerals Enterprise.
The US Second Circuit Court of Appeals ruled that CME had served Venezuelan state-backed miner Ferrominera Orinoco properly in the mining company’s efforts to enforce the award.
And the three judges found that the arbitration panel did not overstep its bounds with its award.
