Topic: Arbitration

New York Federal Court Finds That Panel’s Refusal to Hear Certain Evidence Does Not Justify Vacating Arbitration Award

James Fellus commenced arbitration against his former employer, Sterne, Agee & Leach, Inc. (“SAL”), seeking damages for wrongful termination.  At the close of the arbitration hearing, Fellus submitted an exhibit related to one of the central issues before the panel.  SAL objected to the use of this exhibit, but was overruled.  The arbitrators ultimately issued an award in Fellus’ favor. 

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Arbitrators’ Award of Attorneys’ Fees Upheld

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after which the FINRA panel ordered it to pay more than $300,000 of Bear Stearns’ attorneys’ fees related to the withdrawn claims.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. 

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UK: Commercial Court Upholds Order Enforcing a Declaratory Award

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. 

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UK: English Commercial Court Addresses Issue of Serious Irregularity in Arbitration Appeals

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. 

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