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The two sides will go to arbitration proceedings next month to try to resolve the row.
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BP failed to show up at the scheduled board meeting of its joint venture TNK-BP, leaving its Russian partners accusing the company of trying to "sabotage" arbitration proceedings meant to resolve their dispute.
If the judge finds in favor of the class-action lawyers, financial firms could decide to use similar tactics to circumvent arbitration proceedings and limit their liability in securities cases, plaintiff lawyers and regulators say.
Thus investments are done through Cyprus and the like, so that the transaction is subject both to Cypriot law and also to the arbitration proceedings written into most trade and investment treaties (that ISDS stuff that gets the left so irate).
A team from BAE Systems, which has been threatening to bring arbitration proceedings in Paris against the sultan, is believed to have flown to Borneo in July in an unsuccessful attempt to resolve the patrol boats dispute.
It has refused to cede control, prompting an irate Eureko to launch arbitration proceedings before an international tribunal, as a Dutch-Polish investment treaty allows.
"Congesting the federal courts with countless appeals to prolong arbitration proceedings for numerous employees provides no benefit to the public and flouts the efficient resolution Chipotle professes to seek," the judge scolded.
"Mr. Sarkisian made the decision not to wait for a resolution," said Loewinsohn, who added that there isn't a timetable to commence arbitration proceedings.
The two sides are now preparing to begin arbitration proceedings.
The partners in the Helmsley Palace Hotel have been allowed by the New York State Supreme Court to continue arbitration proceedings against Helmsley Enterprises Inc.
The rapper and mogul wants a court to block arbitration proceedings in his fight with a licensing company over the use of his Roc Nation logo.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com