Following are two interesting and recent federal court rulings related to arbitration.
Award of Attorney’s Fees Associated with Motion to Confirm Reversed on Appeal
Zurich American Insurance (as subrogee of Vinmar International) v. Team Tankers
Vinmar International chartered a ship from Team Tankers (TT). When the chemical shipped from Houston arrived in South Korea, it showed signs of yellowing, reducing its value.
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Non-FINRA Arbitrators Allowed if Specified in Pre-Dispute Employment Agreement
Credit Suisse Securities v. Tracy
John Tracy and other Los Angeles-based financial advisors entered into employment agreements with Credit Suisse. Those agreements contained provisions requiring an internal grievance procedure followed by mediation, followed by binding arbitration in the event none of the other non-binding processes produced a settlement.
