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Collecting Arbitration Awards: Substantive and Procedural Aspects of Enforcement and Monetization

Recording of a 90-minute CLE webinar with Q&A

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Conducted on Wednesday, October 23, 2019

Recorded event now available

or call 1-800-926-7926

This CLE course will educate counsel as to the steps necessary to make an arbitration award something more than a piece of paper. Arbitrators lack the power to enforce their awards, therefore it is imperative that the victor know the necessary steps to follow to collect the spoils. These steps include defending the arbitrator's power and converting the arbitrator's award into a collectible court judgment.

Description

The ultimate objective of a party seeking damages in an arbitration is usually to get paid. Thus, prevailing in an arbitration proceeding is only one step for counsel in achieving that objective because, as FINRA reports, the rate of unpaid awards is in the range of 30%. Wise counsel can be helping their clients if they draft arbitration clauses with enforcement in mind. There are also steps that can be taken after the dispute arises but before there is an award.

And, of course, there are important steps that must be taken in court to confirm and enforce an arbitration award. There can be many traps for the unwary. Those steps are subject to either federal or various state laws. A confirmation proceeding begins with a petition filed within a defined period after the arbitration award is issued. Jurisdiction and venue may differ from standard civil proceedings.

Even a procedurally proper filing may not result in confirmation. Though a court is limited in the scope of its review of the arbitrator's award, an award can be vacated, modified, corrected, or even remanded to the arbitrator under certain circumstances. Some of these circumstances concern corruption and fraud; others involve the power of the arbitrator; others concern simple matters such as facial miscalculations.

Listen as this panel of arbitration and litigation veterans details the relevant procedural and substantive principles and relates those principles to "real world" examples.

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Outline

  1. Steps to be taken before the arbitration
    1. Drafting the arbitration clause to enhance the possibilities of enforcement
    2. Considerations after the dispute arises but before the award is issued
  2. Confirmation process
    1. When to bring confirmation proceedings
    2. Where to bring confirmation proceedings
  3. Possible challenges to award
    1. Arbitrator conduct (fraud, etc.)
    2. Arbitrator power (action outside of power)
    3. Process issues (notice, etc.)
    4. Math errors
  4. Steps to increase chances of confirmation

Benefits

The panel will review these and other notable matters:

  • Sources of law regarding confirmation
  • The confirmation process
  • Possible challenges to arbitration awards

Faculty

Goldstein, Stephanie
Stephanie Goldstein
Partner
Schorr Law

Ms. Goldstein is a seasoned litigator with Schorr Law’s real estate litigation team. She prides herself on...  |  Read More

Weigel, Robert
Robert L. Weigel
Partner
Gibson Dunn & Crutcher

Mr. Weigel is an experienced commercial litigator with extensive trial experience. He focuses on litigation concerning...  |  Read More

Zaslowsky, David
David Zaslowsky
Partner
Baker & McKenzie

Mr. Zaslowsky chairs the Litigation Department of Baker McKenzie's New York office, and practices in the area of...  |  Read More

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