First Department Issues Noteworthy Arbitration Decision

Category: Commercial Litigation and Arbitration

September 28th, 2018

Yesterday the New York Appellate Division, First Department issued their highly anticipated decision in the Daesang Corp v. Nutrasweet Co. matter. The matter arises from a petition by Daesang to confirm an ICC Final Award. In a stunning decision, the Supreme Court found the Tribunal manifestly disregarded the law in dismissing two of Nutrasweet’s counterclaims and vacated the award. On appeal by Daesang, the First Department reversed citing that manifest disregard is a high standard that remains a doctrine of last resort and is difficult to apply given the FAA’s mandate to avoid judicial review of the arbitrators’ findings.

Click here for the text of the First Department’s decision.

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