Tang Energy Group Ltd. v. Catic USA, Inc. (Final Award), ICDR Case No. 01-14-0001-4150, 21 December 2015
In 2017, Chinese-owned Catic USA (Respondent) partnered with Texas-based Tang Energy Group (Claimant) and several other entities to create Soaring Wind Energy LLC (Delaware, USA), to which Catic pledged USD 50 million. Each member and their affiliates agreed to engage in the marketing of wind energy services, equipment, and materials exclusively through the partnership. After several years, it was discovered that Catic had not yet provided financial support to the partnership and that its parent company had, through an affiliate, invested in wind farms in violation of the agreement. Under the terms of the parties’ binding arbitration agreement, Tang initiated proceedings before an ICDR panel in Dallas, Texas. The Tribunal found that Catic and its affiliates had violated the partnership agreement and held them jointly and severally liable for USD 62.9 million in lost profits owed to Soaring Wind Energy LLC. Additionally, it ordered the divestiture of Catic and its affiliates from the LLC without compensation.