When East meets West to collaborate in a joint business endeavor, sometimes cultural differences can cause the deal to go way off track. A Texas-based wind energy developer recently sought payback from its Chinese partner over an unsuccessful business venture to construct wind energy facilities throughout the United States.
Wind energy developer Tang Energy Group recently announced that it has been awarded $65 million by a nine-member arbitration panel conducted in relation with the American Arbitration Association, according to Greg Levesque, Tang Energy’s senior adviser based in Dallas. Tang Energy received the award in connection with its breach of contract dispute with the Aviation Industry Corp. of China (AVIC).
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