You may remember that in February 2008 the "auctions" that gave "auction-rate securities" their liquidity seized up. Lots of people who'd bought ARSs thought they could sell them about as easily as they could unload shares in money market funds. The slightly higher rate of return made the ARSs more attractive. So they believed.
The auctions
The wacky world of litigating arbitration issues keeps getting wackier.
Witness today's Ninth Circuit ruling that, no, by golly, a party needn't include in its complaint an explanation of why it doesn't have to arbitrate.
The defendant, Fastbucks, which franchises "payday loan" stores in California and elsewhere, including its home state, Texas, urged that Golden
Back in April, Blawgletter read the Court's decision in Stolt-Nielsen S.A. v. AnimalFeeds Int'l Corp., No. 08-1198 (U.S. Apr. 27, 2010), to mean that arbitrators "will have no choice but to deny almost all class certification requests."
The Stolt-Nielsen majority held, 5-3, that an arbitration panel exceeds its authority under the federal Arbitration Act
The unconscionable arbitration clause in your job contract says you agree that only the arbitrator may decide the question of unconscionability.
Can a court still declare the unconscionable clause unconscionable, now that you learned your employer may have discriminated against you and people like you on grounds of race?
Or must the court send you to Do Your
Today the U.S. Supreme Court broke 5-3 in favor of a rule against class arbitration.
The majority held that an arbitration panel exceeds its authority under the federal Arbitration Act when it construes an agreement to arbitrate as allowing class treatment of a dispute unless the agreement shows the parties intended to permit such a
The Supreme Court of Texas today upheld the right to appeal from an order that vacates an arbitration award under the Texas Arbitration Act and directs a rehearing with a different arbitrator.
The Court relied on TAA's provision that "[a] party may appeal a judgment or decree entered under this chapter or an order . . .
The Arbitration Act of 1925 set up a regime aiming to settle disputes quickly and cheaply. The system depends on courts to make it work. Courts don't do quick and cheap. Sorry.
The Fifth Circuit proved the point this week. The appeal turned on whether a district court erred by ordering a respondent in an arbitration (Old Colony) to pay $29,600 as a deposit to cover American
A panel of the Tenth Circuit today affirmed an order that denied a motion to vacate an arbitrator's award in favor of Qwest, the telephone company.
The movant, DMA International, accused the neutral of misdeeds but mainly called him dumb for reading an unclear contract such that he ruled that DMA couldn't get $3.7 million more than the $1.7