By Joyce Hanson (December 8, 2021, 8:27 p.m. EST) – Sandwich chain Subway can’t shut down hundreds of Russian stores because the fast food company and a franchisee failed to come to a mutual final deal on a arbitral award, Manhattan federal judge Jed Rakoff found Wednesday in an order setting aside the award.
The senior district judge ruled that, despite a strong presumption under the United States Code in favor of a court confirming an arbitral award within one year, the Federal Arbitration Act provides that a district court may set aside a final award if it finds that the arbitrators have exceeded their powers or been imperfectly executed.
Judge Rakoff said that the “fundamental …
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