STORY FROM: Reinsurance & Arbitration

2nd Cir. Upholds Enforcement of Arbitrators’ Summonses in Beechwood Re Case

NEW YORK — A New York federal judge had jurisdiction to enforce summonses issued by an arbitration panel in a fraud case involving Beechwood Re and failed hedge fund Platinum Partners, the 2nd Circuit U.S. Court of Appeals has ruled.

In a May 1 opinion, the appellate court said the judge was obliged to “look only to the citizenship of the parties in the action before it” in determining jurisdiction. The court further ruled that the summonses did not violate Section 7 of the Federal Arbitration act because they did not require production of any documents "pre-hearing."

In the arbitration, ...

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