United States / 15 June 1979 / U.S. District Court, Southern District of New York / Transmarine Seaways Corp. v. Marc Rich & Co. / 79 Civ. 1439-CSH
| Country | United States |
| Court | United States, U.S. District Court, Southern District of New York |
| Date | 15 June 1979 |
| Parties | Transmarine Seaways Corp. v. Marc Rich & Co. |
| Case number | 79 Civ. 1439-CSH |
| Applicable NYC Provisions | V | V(2)(b) |
| Source | 480 F. Supp. 352 |
| Languages | English |
| Summary | A dispute arose between Transmarine Seaways Corporation of Monrovia (“Transmarine”) and Marc Rich & Co. A.G. (“Rich”) concerning a charter party. Pursuant to an arbitration clause in the charter party, the dispute was submitted to arbitration before the Arbitral Tribunal in New York. An award was rendered in favor of Transmarine who sought confirmation of the award and a judgment thereupon before the United States District Court, for the Southern District of New York. Rich cross-moved to vacate the award. The District Court confirmed the award and dismissed Rich’s cross-motion. The Court held that there had been no violation of public policy under Article V(2)(b) NYC, rejecting Rich’s contentions that Transmarine procured the agreement by duress. It further held that a party claiming duress has the burden to establish it, and Rich failed to discharge that burden. |
Attachment (1)
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