In In re UBS Warburg LLC & Auerbach, Pollak & Richardson, Inc., New York Law Journal, Oct. 22, 2001, p. 24, col. 4, is an important recent case from New York County Supreme Court that, although not an appellate case, seems to have shown a way to harmony between New York and federal law concerning the relationship between arbitration and the courts. It overturned an arbitration award, but without intruding unduly into the decision-making process that, in arbitration, the parties have assigned to the arbitrator, not the court. It also reflects a helpful clarification and positive development in New York arbitration law.
In states around the country two laws of arbitration compete for application: the Federal Arbitration Act (FAA) and the law of the state. Federal law usually applies because of the doctrine of preemption and because the Supreme Court has very liberally construed the FAA’s limitation to “contract[s] evidencing a transaction involving commerce.” See Allied-Bruce Terminix Cos. v. Dobson, 513 U.S. 265 (1995).
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
