STORY FROM: Reinsurance & Arbitration
Arbitrators’ Alleged Deficient Disclosures Do Not Warrant Vacatur, N.Y. Judge Rules
May 9, 2019
NEW YORK — A New York federal judge has confirmed a $166,624 arbitration award, ruling that a party waived his right to challenge an arbitrator’s failure to disclose a possible financial interest by failing to timely lodge an objection.
In a May 6 order, Judge J. Paul Oetken of the U.S. District Court for the Southern District of New York further found the party challenging the award failed to explain how the arbitrators’ other allegedly deficient disclosures kept them from rendering an objective and impartial determination.
Michael Miller worked as a financial advisor for UBS Financial Services Inc. and UBS ...