2nd Circ. Clarifies Point On Alter Egos In $48M Award Row (Law360)
Law360, March 2, 2017
2nd Circ. Clarifies Point On Alter Egos In $48M Award Row (subscription required)
“In its ruling, the panel had ordered the lower court on remand to consider whether the contracts between the parties provided “clear and unmistakable” evidence that the parties agreed to have an arbitrator decide whether a third party that hadn’t signed the agreements could be bound to an award under the contracts….But that made it sound like the panel had concluded that the extent to which a valid foreign arbitration award may be enforced against a party that had not been included in the arbitration or named in the award turns on the scope of the arbitration agreement — a holding that could create confusion and impede legitimate award enforcement, the Association of the Bar of the City of New York told the court last month in an amicus brief….Dana MacGrath, the chairwoman of the Arbitration Committee of the New York City Bar Association, told Law360 on Thursday that the association is pleased that the Second Circuit accepted its brief and considered it while issuing its amended opinion. ‘We hope and believe that our amicus submission was useful to the court,’ she said.”
