In re the Arbitration between Antique Rug Dealers Ass'n & Hakimian

—Order and judgment (one paper), Supreme Court, New York County (Martin Stecher, J.) entered June 27, 1994, which, after a hearing, granted the petition to confirm an arbitration award, and directed the issuance of certain stock and a reduction of rent to certain subtenants of respondent New York Oriental Rug Trade Center, with related relief, unanimously affirmed, with costs.

Respondents-appellants’ contention that the arbitrators improperly rendered an award because not all necessary parties were party to the arbitration is without merit. The statutory grounds for vacatur of an award are the…