Arbitration

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International Capital & Management Company arbitrated a dispute against Bear Stearns before the Financial Industry Regulatory Authority (“FINRA”).  International Capital ultimately withdrew its claims in the arbitration, after which the FINRA panel ordered it to pay more than $300,000 of Bear Stearns’ attorneys’ fees related to the withdrawn claims.  International Capital moved to vacate this portion of the panel’s award. …
Read More Arbitrators’ Award of Attorneys’ Fees Upheld

In Sovarex SA v Romero Alvarez SA [2010] Folio 1231, Mr Justice Hamblen held that the court had the power to direct that there be a determination of disputed facts under the procedure set out in s66 of the Arbitration Act 1996 (the Act) for the enforcement of arbitral awards. …
Read More UK: High Court Rules on Applicability of Procedure Under s66 of Arbitration Act 1996 to Disputed Issues of Fact

Munich Reinsurance America was reinsured under a treaty in which National Casualty Corporation and Employers Insurance Company of Wausau, among others, participated as reinsurers.  The treaty contained an arbitration clause that provided as follows: …
Read More Federal Court Finds that Treaty’s Consolidation Language is for Arbitrators to Interpret

In the recent judgment, AES Ust-Kamenogorsk Hydropower Plant LLP v Ust-Kamenogorsk Hydropower Plant JSC [2011] EWCA Civ 647, the Court of Appeal held that an anti-suit injunction can be granted to restrain foreign proceedings brought in breach of an English arbitration agreement, even in the absence of an actual, proposed or intended arbitration. …
Read More UK: Arbitration Proceedings Not a Prerequisite for Anti-Suit Injunctions

The U.S. Supreme Court recently denied a reinsurer’s request to hear a dispute that concerned, among other things, whether a cedent’s party-appointed arbitrator should be disqualified from serving in a subsequent arbitration involving related parties and issues. …
Read More Supreme Court Denies Reinsurer’s Petition to Hear Arbitrator Disqualification Case

We have previously reported here and here on the long-running dispute between West Tankers and the insurers, Allianz and Generali. The latest development is the English Commercial Court decision, West Tankers Inc v. (1) Allianz SpA and (2) Generali Assicurazione Generali SpA [2011] EWHC 829 (Comm). For full details of the facts leading up to this decision, please go to our previous blogs. …
Read More UK: Commercial Court Upholds Order Enforcing a Declaratory Award

In the recent English Commercial Court decision of Ispat Industries Ltd v Western Bulk Ltd [2011] EWHC 93 (Comm), the court held that an appeal based on section 68 of the Arbitration Act 1996 (the Act) would only be successful under the most serious of circumstances and where there was or stood to be a risk of substantial injustice to one of the parties. …
Read More UK: English Commercial Court Addresses Issue of Serious Irregularity in Arbitration Appeals

Thanks to the Supreme Court’s ruling in AT&T Mobility LLC v. Concepcion, businesses now have a mechanism to insulate themselves from costly class actions. In Concepcion, the Court considered whether states can invalidate arbitration agreements that prohibit class arbitration proceedings. …
Read More Client Advisory – Supreme Court Ruling Deals a Blow to Consumer Class Actions

The Republic of Iraq moved to compel arbitration of its lawsuit against BNP Paribas pursuant to an arbitration clause in a contract between the United Nations and BNP.  The suit sought to recover damages stemming from BNP’s involvement in the alleged corruption of the United Nations Oil-for-Food program.  BNP cross-moved to enjoin arbitration. …
Read More New York Federal Court Finds That The Republic of Iraq Cannot Arbitrate Claims Related to United Nations “Oil-for-Food” Scandal Based Upon Third-Party Beneficiary Status