STORY FROM: Reinsurance & Arbitration
N.Y. Federal Judge Vacates Reinsurance Arbitration Award, Citing Evident Partiality
April 11, 2017
NEW YORK — A New York federal judge has vacated a reinsurance arbitration award due to a party arbitrator’s failure to disclose his financial relationship with one of the parties, ruling that it constitutes evident partiality because it would lead a reasonable person to conclude that the arbitrator was partial to one side.
On March 31, Judge Vernon S. Broderick of the U.S. District Court for the Southern District of New York granted the reinsurers’ motion to vacate the award. The judge explained that the arbitrator’s relationships “are far more significant, more numerous, and involve more financial entanglements than are ...
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