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ICDR Case No. 152-04 - Part 2A - ICDR Awards and Commentaries

Author(s): 
Grant Hanessian
Page Count: 
38 pages
Media Description: 
1 PDF Download from "ICDR Awards and Commentaries"
Published: 
September, 2012
Jurisdictions: 
India,
International,
United States
Practice Areas: 
Commercial Disputes,
Employment,
Defects and Invalidity,
Contents of Arbitration Agreement,
ICDR
Author Detail: 

Grant Hanessian is Co-Chair of Baker & McKenzie's International Arbitration Practice Group and Chair of the Litigation/Dispute Resolution Department of the firm's New York office.

Mr. Hanessian has acted as counsel or arbitrator in more than 100 international cases concerning contract, energy, construction, commodities, insurance, intellectual property and other matters and arising under many national laws and bilateral and multilateral investment treaties. Mr. Hanessian is a member of the Commission on Arbitration of the International Chamber of Commerce and the ICC Task Force on Arbitration Involving States or State Entities. He is co-editor of three other books on international dispute resolution and is recommended by the Chambers USA Guide in the field of international arbitration.

 

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Description: 

Originally from ICDR Awards and Commentaries

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ICDR CASE NO. 152-04 AWARD

American Arbitration Association (AAA)
International Centre for Dispute Resolution (ICDR)
IN THE MATTER OF THE ARBITRATION BETWEEN:
CLAIMANT 1 and CLAIMANT 2 and RESPONDENT
ICDR Case Number: *****152-04

Subject Matters:
Breach of contract; breach of the employment agreement; breach of the implied covenant of good faith and fair dealing; fraud; unfair and deceptive trade practices under Chapter 93A of the Massachusetts General Laws.

Findings:
The Tribunal (1) determined that the termination was for cause and therefore denied the claim for breach of the employment agreement; (2) determined that there was no breach of an implied term that would have allowed an Earnout, thereby denying the claim for breach of the covenant of good faith and fair dealing; (3) and denied both the fraud in the inducement and the unfair and deceptive trade practices claim. The Tribunal proceeded to deny two of the three breach of contract claims, finding that the Respondent was not at fault for the Claimant’s failure to meet EBITA gates and that contract claims cannot be pled as tort claims. The Tribunal also found that Respondent withheld certain funds.

Table of Contents: 

ICDR Case No 152-04
Claims alleging fraud and unjust enrichment and seeking earnout under stock transfer agreement in sale of a Massachusetts company to an Indian company
Commentary
Kana Ellis Caplan and Edward G Kehoe