Halliburton Denied Change of Venue in $300 Million Arbitration Demand
Ecosphere Technologies Hearings to be held in Miami, Florida
PR Log - Mar 25, 2013 - PALM BEACH GARDENS and MIAMI, Fla. -- The American Arbitration Association issued a ruling in favor of Ecosphere Technologies, Inc. (“Ecosphere”) last Friday, mandating that hearings in a $300 million demand against Halliburton Energy Services, Inc. will be held in Miami, FL. The ruling came after Halliburton petitioned to have the venue changed to Houston, Texas.
The demand for arbitration, filed on February 20, 2013, alleged Halliburton took and disclosed Ecosphere’s trade secrets and proprietary technical, business and strategic information. Ecosphere demands $300 million in damages, alleging specifically that Halliburton both breached a non-disclosure agreement with Ecosphere, and that Halliburton stole, converted or misappropriated Ecosphere’s trade secrets, all relating to Ecosphere’s green technology business model to treat and recycle water used during hydraulic fracturing or “fracking” operations for oil and natural gas.
The two parties have until April 8, 2013 to agree upon three arbitrators or the arbitrators will be appointed. Upon appointment of the arbitrators a preliminary hearing will be set.
Trial Attorneys Theodore Leopold and Gregory Weiss of <a href="http://www.leopold-law.com">Leopold Law, P.A.</a> and Patent Attorney Michael Slavin of McHale & Slavin, P.A., both in Palm Beach Gardens, Florida, represent Ecosphere in this demand for arbitration.