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Results: 1-10 of 45

New York federal judge provides interesting insights regarding arbitration and “manifest disregard of the law"

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • January 19 2011

In Goldman Sachs Execution & Clearing, L.P. v. The Official Unsecured Creditors' Committee of Bayou Group, LLC, et al., Slip Copy, 2010 WL 4877847 (S.D.N.Y. 2010), the court denied petitioner’s motion to vacate a $20.580 million award obtained in a FINRA arbitration by The Official Unsecured Creditors' Committee of Bayou Group

U.S. Supreme Court refuses to hear dispute concerning preemptive effect of New York Convention on state law barring arbitration

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • December 29 2010

In a case we have been following on www.insurereinsure.com, Louisiana Safety Association of Timbermen Self Insured Fund v. Certain Underwriters at Lloyd’s, London, the U.S. Supreme Court declined to grant certiorari to hear a dispute between an insurance pool and its reinsurer concerning whether the Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the "New York Convention") preempts a Louisiana statute that bars enforcement of arbitration agreements in insurance or reinsurance contracts

Second Circuit determines party waived its right to arbitrate

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • December 13 2010

Recently, the U.S. Court of Appeals for the Second Circuit affirmed a district court’s ruling denying the motion of plaintiffs-appellants (collectively “LSED”) to compel arbitration of a dispute with Merrill Lynch, Pierce, Fenner & Smith Inc. (“MLPFS”), finding that LSED waived its right to arbitrate by litigating the case for nearly a year before filing its motion

Third Circuit affirms district court’s vacatur of arbitration award, finding that the panel exceeded its powers by awarding relief not sought by either party

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • November 18 2010

The U.S. Court of Appeals for the Third Circuit recently affirmed a District Court’s vacatur of an arbitration award because the arbitration panel exceeded its authority in ordering relief not sought by either of the parties and removing from the parties’ reinsurance agreement a material provision

Ninth Circuit finds that parties agreed to apply the arbitrator disclosure and vacatur standards of the California Arbitration Act, not the FAA

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • October 22 2010

In Johnson v. Gruma Corp., No. 08-56911 (9th Cir. 2010), the Ninth Circuit Court of Appeals applying the California Arbitration Act (“CAA”) in lieu of the Federal Arbitration Act (“FAA”) affirmed a District Court decision refusing to vacate an arbitration award on the ground that the arbitrator failed to disclose his wife’s former professional relationship with the law firm ultimately retained to represent the respondent in the arbitration

Fifth Circuit compels arbitration, holding that parties clearly intended arbitrator to decide issues of arbitrability

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • October 22 2010

Plaintiffs purchased disability insurance from First American National, which later became known as defendant Regions Bank ("Regions"

Federal court finds that the proper venue for a motion to confirm an arbitration award is the district in which the hearing was held, not where the award was signed

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • October 15 2010

NGC Network Asia, LLC (“NGC”) and Pacific Group International, Inc. (“PAC”) were parties to an arbitration held in New York

Cedent contends that US Supreme Court should resolve circuit split concerning whether convention preempts state law precluding arbitration

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • October 14 2010

In a case we have been following on www.insurereinsure.com (click here for our most recent post), the Louisiana Safety Association of Timberman-Self Insurers Fund ("LSAT") recently filed a supplemental brief petitioning the U.S. Supreme Court to grant certiorari to address whether the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the "Convention") preempts a Louisiana Statute that bars enforcement of arbitration agreements in insurance or reinsurance contracts

Third Circuit rules that clear and unambiguous intent is required to opt out of the removal provision and vacatur standards of the FAA and convention

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • October 4 2010

A recent decision of the Third Circuit Court of Appeals, Ario, Insurance Commissioner of the Commonwealth of Pennsylvania, in his official capacity as the statutory liquidator of Legion Insurance Company (in liquidation) v. The Underwriting Members of Syndicate 53 at Lloyd’s for the 1998 Year of Account, No. 09-1921, 09-2989 and 09-2991 (3d Cir. 2010), involved a dispute between the Liquidator of Legion and Villanova, as cedents, and The Underwriting Members of Syndicate 53 at Lloyd’s for the 1998 Year of Account, as reinsurers, which concerned whether the cedents had properly underwrote the business described in the reinsurance placement materials

Federal court denies insured’s motion to vacate arbitration award: finds that reinsurer was not indispensable party to dispute, arbitrators had authority to award attorneys’ fees, and manifest disregard of the law is no longer viable

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • September 28 2010

Plaintiffs sued their insurer, Northbrook Indemnity Company, which removed the case to federal court and moved to compel arbitration