Bit˙menes Orinoco v New Brunswick Power Holding - United States District Court Southern District of New York Case No 1-05-cv-09485 LAP - Opinion and Order by Loretta A Preska - 31 January 2007
This dispute arises out of the alleged breach by Petitioner/Cross-Respondent Bit˙menes Orinoco, S.A. ("BITOR"), a Venezuelan fuel supply company, of an alleged 20-year, multi-billion dollar, fuel supply agreement (the "FSA") with Respondent/Cross-Petitioner New Brunswick Power Holding Corporation ("NB Power"), a Canadian power company. NB Power seeks to compel arbitration of this dispute based on an arbitration clause within the alleged FSA. BITOR moves for summary judgment pursuant to Rule 56 of the Federal Rules of Civil Procedure on the basis that no contract (and no arbitration clause contained therein) was ever concluded. Specifically, BITOR contends that the parties intended to be bound to the alleged FSA only upon its future signing -- an event which never occurred. For the reasons set forth below, BITOR's motion is denied.