This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

United States District Rules In Favor Of KBR Reconfirming Arbitration Award Against PEP

KBR (NYSE: KBR) has announced that the United States District Court Southern District of New York has ruled in favor of KBR, reconfirming the arbitration award against Pemex Exploration and Production (PEP), a subsidiary of PEMEX, the Mexican national oil company.

In his decision, New York District Court Judge Alvin Hellerstein, stated that the Mexican nullification of the arbitration award “violated basic notions of justice.”

“The District Court’s reconfirmation of the International Chamber of Commerce’s 2010 decision brings KBR one step closer to finally resolving this legacy issue,” said Andrew Farley, Executive Vice President and General Counsel.

Additional information regarding this matter can be found in KBR’s Form 10-Q for the period ending June 30, 2013, in the Notes to Condensed Consolidated Financial Statements (Note 6) under Pemex Arbitration. Full transcript of Judge Hellerstein’s ruling is available at the United States District Court Southern District of New York website ( www.nysd.uscourts.gov/cases/show.php?db=special&id=323).

KBR is a global engineering, construction and services company supporting the energy, hydrocarbon, power, industrial, civil infrastructure, minerals, government services and commercial markets. For more information, visit www.kbr.com.

Copyright Business Wire 2010

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs