Deal of the Year Winner: Disputes
More than three years after Barra Energia issued an exclusion notice demanding the exit of counterpart Dommo Energia from a joint operating agreement – a move that sparked a slew of arbitral, judicial and regulatory proceedings – an arbitration tribunal upheld the withdrawal notice in a final award in 2020. It marked the first time a tribunal has enforced a forfeiture provision in a joint operating agreement (JOA) governed under Brazilian law. It wins the disputes category of our Deal of the Year Awards.
25 May 2021