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Purpura v. Bear Stearns Companies

Citations: 238 A.D.2d 216; 656 N.Y.S.2d 253; 1997 N.Y. App. Div. LEXIS 3898

Court: Appellate Division of the Supreme Court of the State of New York; April 17, 1997; New York; State Appellate Court

Narrative Opinion Summary

An order issued by the Supreme Court of New York County on April 24, 1996, denied the plaintiff's motion to vacate an arbitration award that rejected his claims on the merits and declined to remand the matter to the arbitrators for clarification regarding the expiration of the Statute of Limitations. The order was unanimously affirmed, with costs awarded. The court concluded that the lack of explanation from the arbitrators on their calculation of the Statute of Limitations or the merits of the plaintiff’s claims did not render the award non-final or imperfect. The award was confirmed as it resolved the submitted controversy without creating a new one. The court referenced established case law to support its decision and found the plaintiff's additional arguments unpersuasive. The justices involved in the concurrence were Milonas, J.P., Ellerin, Rubin, and Mazzarelli, JJ.

Legal Issues Addressed

Finality of Arbitration Awards

Application: The court determined that the arbitration award was final and complete even without an explanation regarding the calculation of the Statute of Limitations or the merits of the claims.

Reasoning: The court concluded that the lack of explanation from the arbitrators on their calculation of the Statute of Limitations or the merits of the plaintiff’s claims did not render the award non-final or imperfect.

Judicial Review of Arbitration Decisions

Application: The court applied established case law to uphold the arbitration award, indicating the limited scope of judicial review in arbitration matters.

Reasoning: The court referenced established case law to support its decision and found the plaintiff's additional arguments unpersuasive.

Power of Courts to Confirm Arbitration Awards

Application: The court affirmed the arbitration award as it fully resolved the dispute submitted, without necessitating any further clarification or remand.

Reasoning: The award was confirmed as it resolved the submitted controversy without creating a new one.