Roffler v. Spear, Leeds & Kellogg

This Court held, in affirming the vacatur of the initial arbitration award in this matter, that the arbitrators’ award, which, without explanation, provided monetary relief to individual claimants for damage suffered by a corporation, was made in manifest disregard of the law by an arbitration panel that exceeded its authority (Matter of Spear, Leeds & Kellogg v Bullseye Sec., 291 AD2d 255 [2002]).

The arbitrators’ subsequent rendering, presently before us, of an identical award with a cursory explanation of their reasoning, is not sufficient to cure the award’s essential fault, namely, that…