Lawsuit started 3-26. Arbitrators (3) had to be chosen by 4-8. Therefore about 3 months have passed. I have read numerous articles on arbitration and the standard time is 4- 6 months to reach an agreement. So if what I have read is correct ESPH should be rounding the corner.
Anyone else concur with this time period?
Actually the two parties had until 4/8 to decide and then arbitration process takes over if they could not agree, each party develops a list of potential candidates ranked by acceptance to the party, these lists are used to find highest ranking candidates on mutual lists then each party has a week to reject and if rejected then process starts over. Depending on how many candidates are going to be selected you can see how this can be strung out, then after agreement you have to get on the docket for preliminary hearing. Take a look at adr.org, I gave it a look this morning and it may be a while for us to hear something.
Extent of discovery is the key element in speed of the process. One additional thought - There is no allegation by ESPH, the plaintiff that technology was "stolen"; the theme is Halliburton, the defendant "stole" Ecosphere's business model.
Matt, some additional commentary HAL violated non-disclosure agreement-- stole, converted & misappropriated Eco trade secrets,. "Eco alleges HAL wrongfully used Eco trade secrets to immediately market itself as an environmentally friendly company to form a venture known as Blue Energy Solutions to provide well-site recycling technology & holistic water management solutions to the Oil & Gas industry with the goal of reducing disposal costs & minimizing water volumes & acquire trademarks & patents."