Salsitz v. Kreiss

Plaintiffs, Neil Salsitz, Biagio D’Ugo and New Horizons Productions, Ltd. (New Horizons), seek review of a trial court ruling confirming an arbitration award in favor of defendants Fritz Kreiss and Alternative Utility Services of IL, Inc. (AUS).

On March 9, 1994, D’Ugo, Salsitz and Kreiss entered into a business venture. They executed a letter of understanding and an addendum to the letter of understanding, a stock incentive option program. The addendum contained a clause whereby the parties agreed to arbitrate disputes arising between them pursuant to the rules of the American Arbitration…