Third National Bank in Nashville v. Wedge Group Inc.

MEMORANDUM

JOHN T. NIXON, District Judge.

Presently before the Court is a motion by the defendant, WEDGE Group Incorporated (“WEDGE”), to stay proceedings in the above-styled action pending arbitration pursuant to 9 U.S.C. § 3. The Court GRANTS the motion for a stay of the proceedings, subject to the appointment of a neutral arbitrator.

I

The motion at bar arises out of an action by Third National Bank in Nashville (“Third National”) to recover $2,569,983 allegedly owed by WEDGE to the Rodgers Companies (“Rodgers”), a former WEDGE subsidiary. Third National alleges it is entitled to this sum as a…