Seward & Kissel attorneys obtain the largest award ever issued by a panel of the Society of Maritime Arbitrators.
March 18, 2019
On December 20, 2018, a unanimous panel of the Society of Maritime Arbitrators issued final awards in two related arbitrations totaling more than $200 million in favor of Seward & Kissel client, Commodities & Minerals Enterprise, Ltd. (“CME”). The case arose out of shipments of iron ore and related contracts between CME and a Venezuelan government-related iron ore company. The awards, which were just recently published, were issued after 25 days of hearings spanning nearly three years and are believed to be the largest ever issued by an SMA panel. The Seward & Kissel team members included Bruce Paulsen, Michael Weitman, Brian Maloney, and Laura Miller.