6th Circ. Revives Arbitrator's Indemnification Ruling

Law360, Los Angeles (January 6, 2014, 4:49 PM EST) -- The Sixth Circuit on Monday reversed a lower court’s decision to vacate the ruling of an arbitrator who dismissed petitioners’ indemnification claims against Multiband Corp., holding that the arbitrator’s decision was flawed but not in clear disregard for the statute and the contract.

Bernard Schafer and Henry Block, the trustees of employee stock ownership plans, settled claims of breach of fiduciary duty and sought indemnification from the parent companies via contracts they claimed provided it, but an arbitrator concluded the agreements were invalid under a provision...
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