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Remand Order Following an Order to Vacate Arbitral Award Upheld

By FindLaw Staff on April 02, 2010 10:27 AM

Kashner Davidson Sec. Corp. v. Mscisz, No. 09-1356, dealt with a district court's order vacating an arbitration award and remanding the matter to the Financial Industry Regulatory Authority (FINRA), an arbitral body, following an order to vacate the original award.  Thus, the main challenge is the district court's denial of defendants  Rule 60(b) motion for relief from the order, arguing that a remand to the FINRA was inappropriate because the judgment on appeal did not mention such a remand, the district court

In affirming the district court's remand order, the court rejected the defendants' argument that the remand order contravened the mandate because it did not explicitly or implicitly prohibit the district court from remanding the matter to the FINRA.  Furthermore, in acknowledging defendants' Rule 60(b) denial as a reformulation of their argument regarding the remand order, the court held that there was no abuse of discretion in the district court's denial of the motion, but directed the district court to clarify its position on whether the arbitration should proceed before the same panel or a newly constituted panel of arbitrators

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