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Arbitration Procedure

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In Arbitration Procedure

New York District court denies request to vacate arbitration award

by 4 Mins Read

In Galilea, LLC v. AGCS Marine Ins. Co., No. 19-CV-05768 (VEC) (S.D.N.Y. Dec. 16, 2019), Petitioners, Galilea, LLC and Christopher Kittler, owners of a 60-foot yacht, sought to vacate an arbitration award entered in favor of Respondents/Cross-Petitioners, AGCS Marine Insurance Company, Liberty Mutual Insurance Company, and Starstone National Insurance Company. The arbitration was the result of the grounding of Petitioners’ yacht in Panamanian waters. After Respondents denied Petitioners’ request for insurance coverage, Respondents initiated an…

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In Arbitration Procedure

U.S.: District court denies motion to dismiss petition to enforce non-party arbitration summonses and enforces the summonses.

by and 5 Mins Read

Wash. Nat’l Ins. Co. v. Obex Grp. LLC, No. 18 CV 9693 (S.D.N.Y. Jan. 18, 2019) [click for opinion] Washington National Insurance Company (“Petitioner”) claims it was fraudulently induced to enter a reinsurance agreement with Beechwood Re (“Beechwood”). Petitioner alleged that Beechwood had connections to a hedge fund, Platinum Partners (“Platinum”), which allegedly used Beechwood as a vehicle to, among other things, “invest in other companies in which Platinum had interests, in violation of Beechwood…

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In Arbitration Procedure

Do I know you, Counsel – Can an arbitrator be challenged if he worked in the same law firm as one of the counsel many years ago?

by and 6 Mins Read

The world is small, so is the arbitration scene. Therefore, it cannot always be prevented that arbitrators and counsel know each other from previous professional encounters. But when can this fact lead to the challenge of an arbitrator? The Higher Regional Court of Frankfurt had to deal with this question[1] – in two respects. Respondent’s counsel had worked in the same law firm as the presiding arbitrator and the arbitrator nominated by Respondent. As to…

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In Arbitration Procedure

Thinking ahead: What to consider prior to arbitration when securing warranties and indemnities under SPAs

by 5 Mins Read

In the field of mergers and acquisitions, warranties and indemnities introduced to share purchase agreements (SPAs) offer certain level of security and allocate risk for unsatisfied expectations. As such, they are the main source of claims arising from M&A transactions. In order for the warranties and indemnities to have a real impact they should be secured – but is this enough? To ease the buyer’s concern regarding the seller’s capacity to pay indemnification amounts, arbitration…

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