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- UNITED STATES 12 May 2020 PB Life and Annuity
UNITED STATES 12 May 2020 PB Life and Annuity
United States District Court, Southern District of New York, 12 May 2020, 20-cv-2284 (LJL)
(PB Life and Annuity Co. Ltd. v. Universal Life Insurance Company)
UNITED STATES 12 May 2020 PB Life and Annuity
The Court granted the defendant’s motion to compel AAA arbitration based on the arbitration clause in a reinsurance agreement, finding that a valid arbitration agreement existed and must be read to provide that the issue of arbitrability – whether the parties were bound by the arbitration clause, and whether the dispute fell within the scope of the clause – was to be decided by the arbitrator.
The court discusses whether the dispute falls within the wording of the arbitration agreement; and whether claims in tort fall within the scope of the agreement.
The court discusses how to interpret the Convention’s requirement that the agreement is not null and void etc., as well as specific cases of invalidity: e.g., lack of consent (misrepresentation, duress, or fraud), vague wording of the arbitral clause; other terms of the contract contradict the intention to arbitrate, etc.