Reinsurance Redux - December 2012

In This Issue:

- Southern District of New York Orders Arbitration Panel to Proceed with Umpire Selection:

Finding the Federal Arbitration Act mandates that a provision in a reinsurance agreement establishing a method for umpire selection must be followed, a judge in the United States District Court for the Southern District of New York recently granted an insurer’s petition to appoint an arbitration umpire. In the Matter of the Arbitration between OneBeacon America Insurance Co. and Swiss Reinsurance America Corp., No. 12-CV-5043 (S.D.N.Y. October 19, 2012)

- U.S. Supreme Court Vacates Ruling By Oklahoma Supreme Court Preventing the Arbitration of a Dispute Over Non-Competition Agreement on Federal Arbitration Act Grounds -

- The U.S. Supreme Court recently vacated a ruling by the Oklahoma Supreme Court preventing the arbitration of a dispute over a non-competition agreement on Federal Arbitration Act grounds, holding that a court may review the enforceability of an arbitration clause itself, but if the clause is valid, the validity of the remainder of the agreement is for the arbitrator to decide. Nitro-Lift Technologies, LLC v. Eddie Lee Howard, et al., 568 U.S. 500 (2012)

- Eleventh Circuit Court of Appeals Rules in Class Action That Bank Waived Right to Compel Arbitration By Failing to Move to Compel Arbitration -

In a multi-district class action, the U.S. Court of Appeals for the Eleventh Circuit recently affirmed a Florida District Court’s denial of a bank’s motion to compel arbitration because the bank waived its right to compel arbitration when it failed to move to compel arbitration, and the failure was not excused on grounds that such a motion would have been futile. Garcia, et al. v. Wachovia Corp., et al., No. 11-16029, 2012 WL 5272942 (11th Cir. October 26, 2012)

Please see full Newsletter below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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