When good times came to International-Matex Tank Terminals, the owners of the marine terminal company couldn’t agree what to do. Fifty percent stakeholder Macquarie Infrastructure Company wanted IMTT to pay out more than $331 million in dividends to its owners, while IMTT’s chief executive and two family members who controlled the other half of the company did not.

Both sides lawyered up, with attorneys from Dewey & LeBoeuf and Cadwalader, Wickersham & Taft getting pulled into what became a yearlong arbitration before the American Arbitration Association’s International Centre for Dispute Resolution. And now Macquarie and its lawyers at Dewey can tout having secured a $221.2 million arbitration award in their favor. The company announced the award Sunday, and Dewey filed papers with the Delaware Court of Chancery to confirm it the same day.

Under the terms of the March 29 award, the dividends will be split between Maquarie and its co-investor, the trustees of a voting trust for IMTT that includes its chief executive, Thomas Coleman, whose family founded the company. The arbitrators found that the voting trust had not breached its shareholders agreement with Maquarie, which paid $250 million for its 50 percent stake in family-run IMTT in 2006. As a result of that finding, IMTT doesn’t have to pay Macquarie another $180.6 million that it sought in damages.

Macquarie only filed eight pages of the 48-page arbitration award with the court, leaving much of the arbitration panel’s reasoning unclear. The panel was chaired by Grover Brown, a former vice chancellor of the Delaware Chancery and and partner at Gordon, Fournaris & Mammarella. One of the arbitrators, Harold Furchtgott-Roth, dissented from the 2-1 decision.

The public portion of the award notes that the dispute spilled partly out of IMTT’s “economic good fortune” in 2010. That year, IMTT’s gross revenue increased 61 percent to $557.2 million, according to Macquarie’s annual report. Macquarie and the Coleman family investors hadn’t contemplated all that money coming in at the time they signed their deal four years earlier, the award suggests.

In the arbitration, the Coleman-backed voting trust had also asserted counterclaims for monetary damages and rescission of the shareholders’ agreement. The panel found in favor of Macquarie on those claims. We reached out to Louis Solomon of Cadwalader to ask if Coleman or his relatives would contest to award, but we didn’t hear back.

Macquarie counsel Richard Reinthaler of Dewey declined comment through a spokesman. The company said in a statement that it expects to increase its own cash dividend to its investors once IMTT complies with the order.