
UNITED STATES 15 July 2020 Precision Castparts
United States District Court, Southern District of New York, 15 July 2020, 20-cv-3029 (LJL)
(Precision Castparts Corp., et al. v. Schultz Holding GmbH & Co. KG, et al.)
UNITED STATES 15 July 2020 Precision Castparts
The Court confirmed an AAA award rendered in the United States, finding that the arbitrators did not manifestly disregard Delaware law on the rehash and bootstrapping doctrines in respect of fraud and fraudulent inducement claims. Also, the arbitrators did not exceed their powers, because the fraudulent inducement and breach-of-contract claims both arose from the acquisition that was the subject of the share purchase agreement containing an arbitration agreement.
Public policy: The court discusses the effect of other alleged violations of public policy on the recognition and enforcement of an arbitral award, such as contradictory reasons, manifest disregard of the law (US), etc.