Finance & Banking Alternative Dispute Resolution (ADR)

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Kazakhstan Ordered to Pay $506 Million for Crude Expropriation of Oil and Gas Investments

In a case that highlights both that governments are not above the rule of law and that it is difficult to swiftly enforce arbitral awards, a Swedish appeals court, on December 12, 2016, upheld a $506 million award against...more

Court Refuses To Enforce Arbitration Clause Due To Lack Of Mental Capacity

In Oak Crest Manor Nursing Home, LLC v. Barba, a plaintiff sued a nursing home for negligently allowing a patient with mental disorders to leave the facility and jump from a bridge in an attempt to commit suicide. No....more

NAIC Draws Line In CFPB Sand Box

The National Association of Insurance Commissioners has taken a firm stance on the Consumer Financial Protection Bureau’s proposed ban of “mandatory arbitration” clauses that make financial product consumers waive their right...more

Proposed New Jersey Law Takes Aim at Mandatory Arbitration

Assembly Bill A-3064, which the New Jersey Assembly passed on October 20, 2016, will come up for consideration in the Senate this year. If the Senate passes and the Governor signs A-3064, no company that wants to do business...more

It’s a Wrap – The Year in India That Was

Key developments in the Indian legal landscape in 2016 - From the Startup India campaign launched in January 2016 to the coming into force of substantial provisions of the Insolvency and Bankruptcy Code in December 2016,...more

Using Arbitration to Resolve International Financing Disputes

Parties to international financial transactions have, subject to limited exceptions, historically been reticent to choose international arbitration as a means of dispute resolution in their agreements. In recent years,...more

NAIC Draws Line in CFPB Sandbox

The National Association of Insurance Commissioners has taken a firm stance on the Consumer Financial Protection Bureau’s proposed ban on "mandatory arbitration" clauses that make financial product consumers waive their right...more

Fourth Circuit Refuses To Vacate FINRA Arbitration Award, Despite Party’s Claim That It Had No Opportunity To Participate In...

UBS Financial Services’ motion to vacate a FINRA arbitration award was denied, despite its claims that the panel was improperly chosen and that the panels damages award was flawed in that it did not impose an offset. UBS...more

Tenth Circuit Affirms Refusal To Compel Arbitration Where Agreements Contained Conflicting Arbitration Provisions

Mr. Ragab sued two financial companies and a corporate officer for misrepresentation and for violating several consumer credit repair statutes. There were six agreements between the parties, including, for example, a...more

Non-profit group files FOIA action against CFPB for access to arbitration rule records

The Cause of Action Institute has filed an action against the CFPB under the Freedom of Information Act (FOIA) seeking information related to the CFPB’s proposed arbitration rule. In its complaint filed in D.C. federal...more

Why Brexit is Not Bad News For UK-Based Arbitration and Litigation

A lot has been said about the uncertainties surrounding Brexit and its likely impact on doing business with and within the UK. Will London remain Europe’s financial centre? Will the UK reinstate customs duties on imports and...more

Brazil’s top court strikes down validity of arbitration clause in franchise agreement

In a recent and potentially far-reaching decision, the Superior Tribunal of Justice – the highest court of Brazil for non-constitutional matters with responsibility for harmonizing interpretation of federal laws by the state...more

Arbitration World

From the Editors - Welcome to this 33rd edition of Arbitration World. Following the United Kingdom’s referendum decision on 23 June to leave the EU, in this edition we examine how the uncertainty over the treatment...more

Financial Services Report, Winter 2016

EDITOR’S NOTE - Hope you survived all of those awkward Thanksgiving holiday conversations— amazing how divided people are on whether the court got it right in the PHH case, isn’t it? So on we go into the holiday season,...more

Your Daily Dose of Financial News

Here’s an interesting take on the future of the labor market (especially for an emerging generation that is better with a screen than eye contact)—because robots and AI will be able to take over anything that’s routine,...more

Singapore Legal Update - November/December 2016

Companies Act to Allow Re-domiciliation Into Singapore - On 26 October 2016, the MOF and the ACRA proposed to amend the Companies Act to allow for inward re-domiciliation of companies. This will allow a foreign company...more

Will the CFPB issue a final arbitration rule before Jan. 20?

Last week, the Wall Street Journal reported that the CFPB is pushing to finalize its arbitration rule before Donald Trump’s inauguration as President on January 20.  The comment period on the proposed rule closed on August...more

Your Daily Dose of Financial News

A new trading link dropping next week will give international investors access to more than 800 stocks listed on China’s Shenzhen stock market, the boom/bust venue best known for its “rampant speculation”....more

Chris Lazarini Analyzes Right to Jury Under Section 4 of Federal Arbitration Act

Bass, Berry & Sims Chris Lazarini analyzed a case outlining when a party is entitled to have a jury decide issues related to the making or enforceability of an arbitration agreement. ...more

[Webinar] The Elimination of Pre-Dispute Arbitration Clauses and the New Repayment Rates for Proprietary Schools - Dec. 8th,12pm...

The fourth webinar in our "Decoding the FINAL Borrower Defense Rule" series will examine the ban on pre-dispute arbitration agreements and class action waivers. We’ll discuss the impact of these rules on past and future...more

After Five Years In Court, West Virginia Finds Plaintiff Did Not Waive Right To Arbitrate

The highest state court in West Virginia just found that a credit card company did not waive its right to arbitrate, despite initially choosing a court forum and waiting almost five years to raise its right to arbitrate. ...more

ICC Commission Report Identifies Financial Institutions’ Preferences and Experience With International Arbitration

The report reveals trends in the use of arbitration, dispels common misconceptions and provides insights about when to choose arbitration. On November 9, 2016, the ICC Commission on Arbitration and ADR’s Task Force on...more

Arbitrator’s False Credentials Are Sufficient To Vacate Award

In most circumstances, the Federal Arbitration Act requires that the losing party move to vacate an arbitration award within three months. However, the Ninth Circuit recently ruled that the three-month timeline can be...more

Court Orders Parties to Retry Arbitration Seven Years After Award

In 2008, Move, Inc., initiated a FINRA arbitration against Citigroup Global Markets, alleging that Citigroup improperly invested over $131 million of Move's assets in illiquid and unsuitable auction rate securities. The...more

Election results portend significant changes for CFPB

As a result of Donald J. Trump’s election as President, coupled with the Democrats’ failure to wrest control of the House or Senate from the Republicans, the CFPB can be expected to undergo significant changes that are likely...more

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