Arbitration Award
September 11 Attacks Constituted Two Occurrences According to Affirmed Arbitration Award
April 19, 2013
Plaintiff cedent and defendant reinsurers were parties to certain reinsurance treaties providing cover for aviation-related risks, with threshold triggers of $200 million and $500 million, respectively. A coverage dispute arose regarding whether the terrorist attacks in New York City on September 11, 2011 constituted one, or two separate occurrences, as the term was defined in the underlying policies. Defendants contended there were two occurrences, and thus twice as much of the $1.2 billion in underlying...
April 19, 2013
Plaintiff cedent and defendant reinsurers were parties to certain reinsurance treaties providing cover for aviation-related risks, with threshold triggers of $200 million and $500 million, respectively. A coverage dispute arose regarding whether the terrorist attacks in New York City on September 11, 2011 constituted one, or two separate occurrences, as the term was defined in the underlying policies. Defendants contended there were two occurrences, and thus twice as much of the $1.2 billion in underlying...
Arbitration Award RoundUp
February 28, 2013
Following is a summary of selected court opinions addressing requests for confirmation and vacation of arbitration awards. Manifest disregard NYKCool A.B. v. Pacific Fruit, Inc., No. 11-4246 (2d Cir. Jan 16, 2013) (affirming judgment by S.D.N.Y. confirming an arbitration award based on finding that defendant did not establish a “manifest disregard of the law,” or that the panel exceeded its authority or that the panel denied defendant a fundamentally fair hearing)
February 28, 2013
Following is a summary of selected court opinions addressing requests for confirmation and vacation of arbitration awards. Manifest disregard NYKCool A.B. v. Pacific Fruit, Inc., No. 11-4246 (2d Cir. Jan 16, 2013) (affirming judgment by S.D.N.Y. confirming an arbitration award based on finding that defendant did not establish a “manifest disregard of the law,” or that the panel exceeded its authority or that the panel denied defendant a fundamentally fair hearing)
600camp.com: No port for $26 million arbitration award in shipping dispute
January 3, 2013
600camp.com: No port for $26 million arbitration award in shipping dispute http://goo.gl/87Me4
January 3, 2013
600camp.com: No port for $26 million arbitration award in shipping dispute http://goo.gl/87Me4
