- A U.S. appeals court yesterday upheld a decision confirming a $465M judgment won through arbitration by KBR (KBR -1.6%) in a contract dispute with Mexico's Pemex national oil company.
- The 2nd U.S. Circuit Court of Appeals in New York let stand a decision confirming a $300M arbitration award for KBR's Commisa unit in Mexico even though a Mexican court had nullified it, and upheld a lower court ruling that added $106M to the judgment; the judgment also includes $59M of interest.
- The dispute stemmed from agreements Commisa reached with Pemex beginning in 1997 to build oil platforms in the Gulf of Mexico.