The case of the day is Presley v. N.V. Masureel Veredeling (Tex. Ct. App. 2012). Marina Presley was the president of Sudaglass Fiber Co. She and Sudaglass entered into a joint venture agreement with Masureel, a Belgian company in the business of yarns and fabrics finishing. The aim of the joint venture was to sell continuous filament fiber. The joint venture agreement provided that it was to be “governed by, and construed and interpreted in accordance with, the laws of Belgium.” It also had agreement to arbitrate disputes “arising out of or in relation with the Agreement”. Presley also entered into a loan agreement with Masureel on the same day as the joint venture agreement. The loan agreement was attached as an exhibit to…
Tagged: arbitration, Belgium, Recognition and Enforcement