Fifth Circuit Upholds $62.9M Arbitration Ruling Against Chinese Wind Farm Investor

In a case that questioned the power of arbitration panels to resolve issues with foreign-owned companies, the U.S. Court of Appeals for the Fifth Circuit Tuesday upheld a $62.9 million arbitration award against a Chinese-owned holding company. 

The appellate panel affirmed rulings by the arbitration panel and a federal district court: that the Chinese company had failed to make the $50 million investment it had pledged to make when entering partnership with Soaring Wind Energy, a Dallas-based alternative energy group.