A Florida district court judge has struck down a motion by Ferrominera Orinoco to dismiss a $62.7m arbitration award to Commodities & Minerals Enterprise (CME).
Judge Jose Martinez gave several reasons for his ruling, including Ferrominera's "baseless" claim that a New York arbitration panel "imperfectly executed its power", according to court documents.
He also said the arbitration panel may decide where arbitration hearings may occur, dismissing Ferrominera's claim of lack of New York jurisdiction for the Miami-based case.
