N.Y. Judge Attempts to End 10-Year Arbitration Over Caspian Sea Drilling

NEW YORK - A New York trial judge has affirmed an arbitration award arising from a dispute over rights to a Caspian Sea oil field, but vacated a $3 million sanction levied against one of the parties for alleged delays and burdensome conduct during the proceedings. Grynberg, et al. v. BP Exploration Operating Ltd., et al., No. 116840/2004 (N.Y. Sup., N.Y. Cty.).

Details of the arbitration award were not revealed, but in her Dec. 8 order, New York Supreme Court Justice Jane Solomon agreed with Colorado oilman Jack J. Grynberg that the arbitrator's decision to order sanctions payable to respondent …