When business disputes arise, parties often agree contractually to resolve them through arbitration. Arbitration promises faster, more cost-effective and confidential resolutions than traditional litigation. However, there are potential downsides: parties generally cannot seek to overturn unfair or incorrect decisions; discovery is limited; and parallel and/or enforcement proceedings in court are still possible.
Olshan routinely arbitrates claims both on the claimant and respondent side, and has been engaged in arbitrations in virtually all major commercial and financial sectors, including major contracts, real estate, employment matters, and banking and securities arbitrations. As a result, we are skilled in the judicious use of arbitration, and extensively familiar with its procedural and substantive elements.
Our Litigation attorneys have pursued claims before numerous arbitral bodies, including JAMS and the American Arbitration Association (AAA) and its International Centre for Dispute Resolution. These claims have involved major contracts, licensing agreements, financial agreements, real estate disputes, construction, insurance, and executive employment matters. Reflecting their extensive experience in this area, some of our litigation attorneys regularly serve as arbitrators in AAA matters.
Several of our securities arbitration attorneys have substantial experience handling financial arbitrations conducted by the Financial Industry Regulatory Authority (FINRA). We have represented a broad range of individuals and institutions in FINRA and other securities arbitrations, including those involving customer claims, disputes between brokerage firms, and employment or “raiding” cases.
- Defended a bulge bracket investment bank in a three-day FINRA hearing with 14 witnesses (including two experts), and obtained a defense verdict involving a bond trade claim valued at $6 million.
- Obtained favorable settlement after FINRA hearing for an investor in auction rate securities in claim against the broker-dealer who sold the bonds to him.
- Won favorable ruling after a three-day trial for a broker dealer charged by FINRA with violating SEC Rule 10b-5 in a private placement to investors.
- Successfully settled multiple disputes for well-known forensic consulting and investigatory firm against various former clients.
- Successfully settled arbitration on behalf of publicly traded company against licensee of various comic book properties for mobile handsets.
- Obtained large, eight-figure settlement from regional bank on behalf of publicly traded credit card processor for guaranteed minimums due as a result of termination of the processing contracts.
- Successfully defended Canadian software company in wrongful discharge claim after multi-day hearing and enforcement proceedings in New York and New Jersey.
- Won a multi-million dollar arbitration award, including 7-figure attorneys’ fees, on behalf of world famous restaurateur in a complex breach of contract, breach of restrictive covenant case in California.
- Successfully defended developer in construction litigation and arbitration relating to the engineering and construction of large office tower.
- Representation of partner in partnership dissolution involving an insurance-related business.
- March 14, 2023The Westin, Grand Cayman