Arbitration Over $27M Tin Futures Trading Loss Rebooted
Law360, Chicago (June 21, 2017, 7:47 PM EDT) -- An Illinois appellate court found that a commodities trading company had the right to arbitrate claims for $27 million in losses against its brokerage firm Tuesday, reversing a lower court's decision staying the arbitration before the Financial Industry Regulatory Authority and the London Metal Exchange.
AC Scout Trading LLC, a hedge fund subsidy and commodities trading company incorporated in Delaware, can proceed with its arbitration claims against commodity futures and securities brokerage firm SG Americas Securities LLC following the ruling. The arbitration provision in their contract must be interpreted as plainly as possible and so it covers the companies' dispute, the...
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