The Arbitration Proceeding - Part 1 - Chapter 6 - AAA Yearbook on Arbitration and the Law - 24th Edition
THE ARBITRATION PROCEEDING
6.01 Preclusion: Res Judicata and Collateral Estoppel FleetBoston Financial Corp. v. Alt, 638 F.3d 70 (2011)
Arbitral award against parties to an arbitration operated to bar the same of similar claims in federal court on res judicata grounds even though the arbitral panel never explicitly ruled that the parties in question were properly joined as a part of the arbitration.
ALT was a group of forty-two former employees of RSI, an investment banking firm and wholly owned subsidiary of RSGI, which was itself a wholly owned subsidiary of Fleet. ALT filed NYSE arbitration claims against respondents Fleet, RSI, RSGI, and Fleet Securities, Inc. (FSI), another Fleet subsidiary.
As a NYSE member firm, RSI was required to arbitrate, and it filed an Answer to ALT’s initial Statement of Claims. While RSGI did not itself answer ALT’s claims, RSI—whose counsel also represented RSGI—attempted on several occasions to dismiss RSGI and Fleet from arbitration on the grounds the neither were subject to NYSE arbitration and that neither had agreed to arbitrate. ALT opposed each of RSI’s attempted to dismiss RSGI and Fleet. The arbitration panel never acted upon RSI’s motion that RSGI be dismissed.
Concurrently with these early stages of the NYSE arbitration, Fleet, RSI, and RSGI, and FSI filed an action against ALT seeking a declaratory judgment and a stay of arbitration as to RSGI and Fleet on the basis that neither RSGI nor Fleet were NYSE members and that neither had agreed to arbitrate. The district court declined the request of the litigation plaintiffs (the arbitration respondents) to stay the arbitration as to RSGI and Fleet, and instead stayed its own proceedings pending final resolution of the NYSE arbitration.
CHAPTER 6 THE ARBITRATION PROCEEDING
6.01 Preclusion: Res Judicata and Collateral Estoppel
- FleetBoston Financial Corp. v. Alt, 638 F.3d 70 (1st Cir. 2011)
- Shell Oil Co. v. CO2 Committee, Inc., 589 F.3d 1105 (10th Cir. 2009).
6.02 Remedial Authority of Arbitrators
- Reliastar Life Ins. Co. of N.Y. v. EMC Nat'l Life Ins. Co., 564 F.3d 81 (2d Cir. 2009)
- Kitchens v. Turquoise Properties Gulf, Inc., 70 So.3d 377 (Ala.Civ.App. 2010)
6.03 Awards of Costs, Fees, and Interest
- Newmont v. Ins. Co. of North Am., 615 F. 3d 1268 (10th Cir. 2010)
- Janney Montgomery Scott LLC v. Tobin, 571 F.3d 162 (1st Cir. 2009)
- AIG Baker Sterling Heights v. Am. Multi-Cinema, 508 F.3d 995 (11th Cir. 2007)
- Laborers' Intern. Union of North America v. Brand Energy Services LLC, 746 F.Supp.2d 121 (D.D.C. 2010)
- Don Drennen Motor Co., Inc. v. McClung, 79 So.3d 593 (Ala. 2011)