Marillo v. Shearson Hayden Stone, Inc.

Order unanimously reversed on the law without costs and motion denied. Memorandum: Plaintiff brought an action in 1978 alleging that defendants had converted her securities. The customer’s agreement signed by plaintiff provided that disputes between the parties should be settled by arbitration. Defendants moved to compel arbitration and, by order entered December 17, 1979, Supreme Court dismissed the action and ordered that the matter be resolved pursuant to the arbitration provisions of the customer’s agreement.

Neither party initiated arbitration proceedings and, instead, in June 1981…