Alternative Dispute Resolution (ADR) Civil Remedies Finance & Banking

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Eleventh Circuit Invalidates Another Western Sky Arbitration Clause

On August 29, 2016, the Eleventh Circuit upheld a Northern District of Georgia decision invalidating an arbitration clause in Jessica Parm v. National Bank of California, N.A. (Docket No. 15-12509). Defendant National Bank...more

FINRA Proposes Arbitration Rule Change to Permit Offset of Awards

Last week, FINRA sought approval from the SEC for a proposed change to the FINRA arbitration rules, under which monetary awards requiring the parties to pay each other damages would be offset, so the party owing the larger...more

The Trans-Pacific Partnership – Webinar Segment 2

Elliot J. Feldman conducted a webinar for The Knowledge Group on January 8, 2016 on the Trans-Pacific Partnership. Set out below is the essential text of Dr. Feldman’s presentation for segment 2 of that webinar. ...more

Fees & FINRA

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...more

"Expropriation Damages in Cases Involving Investment Treaties"

Most investment treaties assure investors that, in the event of expropriation, they will receive compensation based on the market value of the enterprise at the time of seizure (excluding the negative valuation effects of any...more

Choose Words Carefully in Dispute-Related Contract Clauses

A couple of words here or there in a contract can make a huge difference, particularly when those words relate to what happens if there is a breach or some other dispute between the parties. This is something that the parties...more

Not Quite Left Out to Dry: Remedies Under International Investment Treaties Available to Renewable Energy Investors Harmed by...

In recent years, project developers, investment funds, and energy companies have invested heavily in renewable energy as a result of incentive programs offered in the legislation of countries such as Germany, Spain, and...more

Recent New York Decisions Bolster Right to Broad Discovery in Aid of Judgments

New York is a key venue for the enforcement of judgments and arbitral awards, and two recent decisions concerning post-judgment discovery demonstrate that while courts will apply their execution and garnishment authority with...more

Locke Lord QuickStudy: Rhode Island Superior Court Decision Impacting Servicers

A Rhode Island superior court recently ruled that, pursuant to R.I. Gen. Laws § 34-27-3.2, foreclosing lenders are required to send mediation notices in any foreclosure initiated after the effective date (October 2014)...more

Removal of Arbitrator for Impartiality Doubts under English Arb Act

In Sierra Fishing Company and others v Hasan Said Farran and others [2015] EWHC 140 (Comm), the English Court removed an arbitrator under section 24 of the Arbitration Act 1996. Under that provision, a party to an arbitration...more

Lance Armstrong Becomes Cautionary Tale on Risks of Arbitration

Arbitration is sometimes touted as less expensive and less risky for businesses than traditional courtroom litigation, especially when it comes to consumer disputes. But disgraced cyclist Lance Armstrong's most recent legal...more

Recent Cases Are Likely to Reduce the Use of New York Courts for 'Turnover' Actions"

New York's position as a global financial center means litigants often have sought to use New York courts as a forum to enforce judgments or arbitration awards against foreign entities. In reality, the burden of enforcement...more

Florida Appellate Court: Open Meetings Law Applies to Collective Bargaining

In a crucial victory for transparency, a Florida state appeals court ruled that the state's open meetings law will not "condone hiding behind federal mediation" when municipal governments try "to thwart the requirements of...more

Enforcement of Arbitration Award by Equitable Execution over Foreign Assets

In Cruz City Mauritius Holdings v Unitech Ltd & ors [2014] EWHC 3131 (Comm), 2 October 2014, Males J allowed the application of the claimant for the appointment of receivers by way of equitable execution over the foreign...more

Indian Supreme Court Cancels Mining Concessions

On 24 September 2014, the Indian Supreme Court cancelled 214 out of the 218 existing coal-mining licenses. The only mining licences which were not cancelled were four coal blocks made to Government controlled undertakings...more

Energy Charter Treaty and the YUKOS/Russia experience

On 28 July 2014, the Permanent Court of Arbitration in the Hague published a final award in an Energy Charter Treaty (ECT) arbitration that has been active for the past decade, ordering the Russian Federation (Russia) to pay...more

SEC Approves FINRA Rule Limiting Expungement

On July 22, the Securities and Exchange Commission authorized the Financial Industry Regulatory Authority, Inc. to implement FINRA Rule 2081 prohibiting brokers from conditioning settlement of customer complaints on (or...more

SEC Approves Amended FINRA Rule 2081 Prohibiting Settlements Conditioned on Expungement

On July 22, the SEC approved amendments to FINRA Rule 2081 that prohibit member firms from conditioning arbitration settlements (or seeking to) upon a customer’s assent to CRD expungement relief. The Rule amendments prohibit...more

Court Quashes Subpoena Seeking Unissued Arbitration Award

After striking the affirmative defense of failure to mitigate, a court quashed a subpoena issued to an arbitrator seeking an unissued arbitration award in a dispute between certain defendants and their reinsurer....more

Compliance Matters: We interrupt our regularly scheduled programming…

While we strive to bring you the latest regulatory matters that we believe you will find important for compliance purposes, we would like to take a moment to bring you information that may be just as valuable....more

The Commercial Decision Reviews Arbitrations: Three Recent Decisions Clarify Standards For Actions Brought Pursuant To Article 75...

Several recent decisions by Commercial Division Justices, two of them affirmed by the First Department, have clarified the limitations and standards applied in actions brought pursuant to Article 75 of the CPLR. Article 75...more

Indonesian Government Imposes Export Ban on Nickel and Bauxite

As of January 12, Indonesia has banned the export of the unprocessed ores, nickel and bauxite. The ban may have consequences for investments in the area and could trigger international claims by foreign investors and...more

No 'Vindication of Rights' Exception to Concepcion, Supreme Court Holds

The U.S. Supreme Court today delivered a knock-out punch to the last major court challenge to the use of class action waivers in consumer arbitration agreements....more

Merchants Held To Arbitration Agreements - American Express Co. v. Italian Colors Restaurant

As for a bit of background, the purported class was made up of merchants that accept American Express (“AmEx”) cards. ...more

SCOTUS Says “Tough Luck” To Plaintiffs Whose Claims Are Too Pricey To Prove In Individual Arbitrations

In American Express Co. v. Italian Colors Restaurant, a divided Supreme Court today reversed the Second Circuit and held that plaintiffs may not invalidate an arbitration agreement containing a class action waiver merely...more

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