]]> Home | Message Board Home Search Arbitration Investors Brokers Finance Law Compliance Archives Eligibility and Attorney Fee Awards Under Review
Courts accept cases dealing with Eligibility and Attorney Fee Awards
ELIGIBILITY AND ATTORNEY FEES UNDER REVIEW: The Florida Supreme Court is reviewing its position on the awarding of attorney fees in arbitration and the effect of the six-year eligibility provision on a litigants claims.
Barron Chase v. Moser was accepted for review by Floridas top court last Spring (SAA 00-16). The decision in the Second DCA set aside an award of attorney fees by the trial court, because the Arbitrators in the subject Arbitration (NASD ID #96-02981) failed to disclose adequately the basis upon which they found liability. The decision, though, questioned the rationale under which the Florida courts have established a bifurcated structure for the award of attorney fees in arbitration. We understand from an attorney close to this case that the Court heard oral arguments in September.
Not unrelated is a second case recently approved for review by the Court. Corporate Securities v. Lind is a Fourth DCA decision that we summarized in the Securities Litigation Alert (SLA 2000-06). It, too, dealt with the general issue of arbitral authority and held that the courts, not the arbitrators, should decide questions relating to six-year eligibility under the SRO arbitration rules. Howard Tescher, Kipnis Tescher, Fort Lauderdale, FL, who represents CSG and from whom we have heard before on this matter (SLA 2000-17), now reports that the Court accepted jurisdiction because of conflicts amongst the various appellate districts.
Copyright 2000-2002 Securities Arbitration Commentator, Inc. P.O. Box 112, Maplewood, NJ 07040; t: 973-761-5880 f: 973-761-1504. Materials denoted with a SAC Reference No. (e.g. SAC Ref. No. 99-01-001) are on hand at SAC and may be obtained by calling the Securities Arbitration Commentator, or by email to firstname.lastname@example.org. The Securities Arbitration Commentator is the leading publication for securities arbitration news and information, and maintains the most complete database of arbitration awards availalble anywhere. For more information regarding their services, visit their website at www.sacarbitration.com
Nothing herein is intended as legal or financial advice. The law is different in different jurisdictions, and the facts of a particular matter can change the application of the law. Please consult an attorney or your financial advisor before acting upon the information contained in this article.
Return to The Securities Law Home Page
Visit Beam & Astarita, LLC, securities arbitration, regulation and litigation attorneys