Significant Decisions by Federal and State Courts in 2004 - Chapter 1 - ADR and the Law - 21st Edition
The American Arbitration Association, ® (AAA), with its long history and experience in the field of alternative dispute resolution, provides services to individuals and organizations who wish to resolve conflicts out of court. The AAA, with a caseload of over 200,000 disputes administered, is the nation's largest full-service ADR provider.
Originally from ADR and the Law - 21st Edition
The Second Circuit held that the parties to arbitration must expressly agree to a post-judgment interest rate other than the statutory rate. Post-judgment interest starts accruing only after the amount of the judgment is meaningfully ascertained. Westinghouse Credit Corp. v. D’Urso, 371 F.3d 96 (2d Cir. 2004).
This case arose from the sale of a chain of supermarkets by Florence D’Urso to a buyer who financed part of the purchase through Westinghouse Credit Corp. The sales contract called for post-closing adjustments and provided that any disputes involving post-closing adjustments should be resolved in arbitration. It also provided that any award must be paid in 10 days and contained an interest provision in the event the award was not paid on the due date. It stated that in that event, interest shall be added to the amount due “from the date payment was due to the date payment is made,” at the prime rate (then 10.5%) plus 5%.
Chapter 1. Significant Decisions by Federal and State Courts in 2004
Federal Appeals Court Decisions
Consumer/Class Action/Telecommunications-Fifth Circuit
Employment-Third Circuit, Sixth Circuit
Intellectual Property-Seventh Circuit, Ninth Circuit
Labor/Construction-Fifth Circuit, Seventh Circuit
Personal Injury-Third Circuit
Securities-Second Circuit, Fourth Circuit, Sixth Circuit
Statutory Claims-Ninth Circuit
State Court Decisions
Commercial/Media-California, Massachusetts, Tennessee
Commercial/Real Estate-New York
Personal Injury/Health Insurance-Tennessee