Limetree Bay Terminals LLC dba Ocean Point Terminals v UNIPEC America Inc - United States District Court Southern District of New York Case No 1-22-cv-08169-AKH - Order and Judgment Confirming Arbitrators Award - 10 April 2023
Unipac America, Inc. have arbitrated their disputes and, after extensive proceedings and an opinion of the arbitrators, an Award was issued in New York, NY, September 14, 2022 and amended September 27, 2022. The parties petition and cross-petition for confirmation of the Award as amended, differing only in their interpretations and contentions. The Court has jurisdiction over the subject matter and the parties, and has reviewed the submissions of the parties.
It is hereby ordered, adjudged, decreed:
(a) Under the Terminal Lease Agreement ("TLA"), the Operator, Limetree Bay Terminals, Inc. (d/b/a Ocean Point Terminals ("LBT") must aspire to meet the highest industry standards but, at a very minimum, must comply with standards equal to those of other comparable first- class operators of terminal facilities.
(b) Unipec America Inc.'s request for a declaration that it may terminate the TLA is denied.
(c) Under the TLA, Limetree Bay Terminals, LLC has the exclusive, unilateral right to determine which tanks shown on Schedule F of the TLA, as it may be amended from time-to-time by the agreement of the Parties, shall be utilized for the storage of Product owned by Unipec America, Inc., and LBT must give Unipec America, Inc. advance notice of such determination with respect to each cargo of Product delivered to the Terminal. However, once initially stored, Limetree Bay Terminals, LLC may not then move or transfer Unipec America, Inc.'s stored Product to any other tank, whether it is on Schedule F or otherwise, without Unipec America, Inc.'s prior consent.
(d) Unipec America, Inc. has breached the TLA by failing to pay Storage Fees due to Limetree Bay Terminals, LLC in the amount of $20,758,606.67 and must pay to Limetree Bay Terminals, LLC the sum of $20,758,606.67 within 30 days from transmittal of this Final Award to the parties. Unipec America, Inc. was invoiced and paid the amount so awarded.