TSYS' Bid To Toss $2.6M Arbitration Award Blocked

Law360, New York (October 26, 2009, 6:48 PM EDT) -- Electronic Payment Systems LLC has won its bid to toss a suit brought by credit card processor TSYS Acquiring Solution LLC seeking the annulment of a $2.67 million arbitration award given to EPS for damages arising from a contract dispute.

Judge James A. Teilborg of the U.S. District Court for the District of Arizona on Thursday issued an order granting EPS’ motion for summary judgment while denying TSYS’ cross-motion for a ruling in its favor, finding that the arbitrator did not exceed his powers in awarding...
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