Lessons of the Recent Decisions Vacating Arbitral Awards

[Editor's note: Edward K. Lenci, a partner at Hinshaw & Culbertson in New York, focuses on the litigation and arbitration of complex business disputes, and much of his practice has historically involved the litigation and arbitration of reinsurance disputes. The firm's website is at www.hinshawlaw.com. This commentary is a shortened version of a paper that will accompany a speech Mr. Lenci will give in Sydney, Australia, at the annual meeting of the International Section of the New York State Bar Association. Copyright 2010, Edward K. Lenci.]

It came as something of a surprise to the insurance and reinsurance industry when, …