In Gater Assets Ltd v Nak Naftogaz Ukrainiy [2008] EWHC 237 (Comm), the applicant company, Nak Naftogaz Ukrainiy (NNU), applied to set aside an order permitting Gater Assets Ltd (Gater) to enforce as a judgment a New York Convention arbitration award issued by the International Commercial Arbitration Court of Moscow.
Arbitration
Federal Court Denies Reinsurer’s Motion to Enforce Confidentiality Order, Vacate Arbitration Award
By Troutman Pepper Locke on
Recently, in Nationwide Mutual Ins. Co. v. Randall & Quilter Reinsurance Co., No. C2-07-120 (S.D. Ohio, Jan. 24, 2008), the U.S. District Court for the Southern District of Ohio examined the scope of a court’s authority to confirm arbitration awards and orders under Section 9 of the Federal Arbitration Act (“FAA”).
Federal Court Confirms Arbitration Award, Finding that Arbitrator did not Exceed His Powers in Amending a Portion of a Prior Award Regarding a Reinsurer’s Liability for Payments Made by its Cedent
The United States District Court for the Southern District of New York recently held that an arbitrator was not precluded by the doctrine of functus officio from modifying his findings regarding a prior award in a dispute between parties, since that award did not resolve the question of damages related to a particular issue and thus was not “final.”
Non-Signatory Compelled to Arbitrate Claims Against Reinsurer
The United States District Court for the Eastern District of Pennsylvania recently ruled that a non-signatory insured was obligated to arbitrate her claims against a reinsurer pursuant to the reinsurance contract’s arbitration provision, finding that the insured was a third-party beneficiary of that contract.
…
Read More Non-Signatory Compelled to Arbitrate Claims Against Reinsurer
Missouri District Court Rules That Suit Against Insurer in Liquidation Can Proceed in Federal Court
In Midwest Employers Cas. Co. v. Legion Ins. Co. (In Liquidation), No. 4:07CV870 CDP (E.D. Mo. Nov. 7, 2007), Midwest Employers Casualty Company (“MECC”) sought a declaration that the demand for arbitration from Legion Insurance Company under forty-three reinsurance contracts that did not contain arbitration clauses was null and void. …
Read More Missouri District Court Rules That Suit Against Insurer in Liquidation Can Proceed in Federal Court
Pennsylvania Appellate Panel Enforces Arbitration Clause in Reinsurance Agreement
By Troutman Pepper Locke on
A Pennsylvania appellate court recently reversed a trial court’s ruling that denied a cedent’s motion to compel arbitration, finding that the existence of a service of suit clause in the reinsurance agreement did not render the arbitration clause meaningless.
…
Read More Pennsylvania Appellate Panel Enforces Arbitration Clause in Reinsurance Agreement
Bermuda Form: The Court of Appeal upholds an anti-suit injunction to prevent a challenge to an English Arbitration award in the US
By Troutman Pepper Locke on
In C v D [2007] EWCA Civ 1282, D insured C under a Bermuda Form policy that provided for London arbitration and was governed by New York Law. C commenced arbitration proceedings in London against D for unpaid monies and the Tribunal held that C was entitled to recover in full.
Contesting an Arbitration Award? Seventh Circuit Affirms That Statute of Limitation Runs From Date the Award is Sent
In a ruling that may impact the world of commercial arbitrations, the United States Court of Appeals for the Seventh Circuit affirmed a district court’s denial of a motion to vacate an arbitration award on the basis that it was filed one-day too late.
Arkansas Federal Court Finds That the New York Convention Preempts the McCarran-Ferguson Act
By Troutman Pepper Locke on
In Murphy Oil USA Inc., v. SR International Business Insurance Co. Ltd., et al., the insured sought coverage from its various excess insurers for losses resulting from an oil spill caused by Hurricane Katrina. No. 07-1071, 2007 U.S. Dist. LEXIS 69732 (W.D. Ark., Sept. 20, 2007). Murphy’s excess insurers in turn served a notice of their intent to arbitrate any coverage dispute in London, pursuant to an arbitration clause contained in each insurer’s policy. …
Read More Arkansas Federal Court Finds That the New York Convention Preempts the McCarran-Ferguson Act
British Insurer Seeks to Confirm Arbitration Award Against Former Tyco CEO
By Troutman Pepper Locke on
Recently, Corporate Officers & Directors of Assurance Ltd. (“CODA”), a U.K. insurer that issued a directors and officers policy to Tyco International Ltd., petitioned a New York state court to confirm an arbitration award directing Tyco’s former CEO, L. Dennis Kozlowski, to pay CODA about $2 million.
…
Read More British Insurer Seeks to Confirm Arbitration Award Against Former Tyco CEO