United States / 27 June 2001 / United States, U.S. Court of Appeals, First Circuit / First State Ins. Co. (US) v. Banco de Seguros Del Estado (Uruguay) / No. 00-2454
| Country | United States |
| Court | United States, U.S. Court of Appeals, First Circuit |
| Date | 27 June 2001 |
| Parties | First State Ins. Co. (US) v. Banco de Seguros Del Estado (Uruguay) |
| Case number | No. 00-2454 |
| Applicable NYC Provisions | V | V(1)(b) |
| Source | online: http://www.ca1.uscourts.gov (official website of U.S. Court of Appeals for the First Circuit) |
| Languages | English |
| Summary | A number of reinsurers, including Banco de Seguros Del Estado (“Banco”), entered into several reinsurance treaties with First State Insurance Company (“First State”). A dispute arose and First State commenced arbitration pursuant to an arbitration clause in the reinsurance treaties. The arbitral tribunal rendered two awards in favor of First State. Upon Banco’s refusal to comply with the awards, First Bank brought an action for enforcement in the United States District Court for the District of Massachusetts pursuant to Section 203 of the Federal Arbitration Act (“FAA”). Banco moved to vacate the awards, arguing that they were unenforceable pursuant to Article V(1)(b) NYC because Banco had not been given proper notice of the appointment of the arbitrator or of the arbitration proceedings. The District Court granted enforcement of the awards and Banco appealed. The United States Court of Appeals for the First Circuit confirmed the lower court’s decision and enforced the awards. In so ruling, the Court held that although lack of proper notice of the arbitration proceedings is a ground for refusal of recognition and enforcement of a foreign arbitral award under Article V(1)(b) NYC, Banco had not established that such was the case here, as it had been notified of the arbitration proceedings in accordance with the terms of the reinsurance treaties. |
Attachment (1)
 Original Language Adobe Acrobat PDF |
