Court of Chancery Set Rules to Uphold Arbitration Awards
TD Ameritrade, Inc. v. McLaughlin, C.A. 3603-CC (July 24, 2008)
This decision set out in detail when the Court of Chancery may set aside an arbirtation award. Not surprisingly, the answer is not very often. The only part of the award set aside was due to an obvious math error. The Court upheld the rest of the award even against an attack that the award was manifestly contrary to law.
The analysis of how to determine if the award is contrary to law is particularly instructive.Share