5th Circ. Nixes Appeal Over Arbitration In $20M Shipping Fight

Law360 (January 10, 2020, 6:11 PM EST) -- The Fifth Circuit has tossed a Marshall Islands shipowner's challenge to an order requiring it to arbitrate its suit seeking security as it pursues a $19.9 million claim against a charterer over extensive damage to its oil tanker, concluding the order cannot be appealed.

A three-judge panel noted in its decision Thursday that the Texas federal judge who had ordered Psara Energy Ltd. early last year to arbitrate its claims against the Malta-chartered Space Shipping Ltd. and related entities had administratively closed the case — something that Fifth Circuit precedent states is the "functional equivalent of a stay" and therefore not...

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