Legal Opinion
Nomura Securities International, Inc. v. CIBC World Markets Corp.
New York Supreme Court
Decided May 10, 2005Published
1Opinion of the Court
OPINION OF THE COURT
Harold B. Beeler, J.
*639Petitioner Nomura Securities International, Inc. (NSI) moves for a permanent stay of arbitration pursuant to CPLR article 75. The critical issue raised by the motion is whether the timeliness of the arbitration claim of respondent CIBC World Markets Corporation should be determined by this court or by the arbitrator.
Facts
The dispute in this case arises from the sale of Mexico Series A bonds without their related value recovery rights (VRRs). VRRs are derivative securities of the Mexican bonds. On October 8, 1998, NSI bought at a discount $34.8 million…
2Cases cited11 opinions
- Volt Info. Sciences, Inc. v. Bd. of Trustees of Leland Stanford Jr. U.Supreme Court of the United States · 1989
- Howsam v. Dean Witter Reynolds, Inc.Supreme Court of the United States · 2002
- Allied-Bruce Terminix Cos., Inc. v. DobsonSupreme Court of the United States · 1995
- Matter of Allstate Ins. Co.(stolarz-Njm)New York Court of Appeals · 1993
- Smith Barney, Harris Upham & Co. v. LuckieNew York Court of Appeals · 1995
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