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Bisnoff v. King

United States District Court for the Southern District of New York

July 5, 2001, Decided ; July 9, 2001, Filed

00 Civ. 5342 (DAB)



DEBORAH A. BATTS, United States District Judge,

Petitioner brought this action to vacate an arbitration award granted by the National Association of Securities Dealers, Inc. ("NASD"). Petitioner asserts that pursuant to NY CPLR § 7511(b)(1) the award should be vacated. Petitioner argues the Panel engaged in misconduct by failing to grant his request for postponement of the arbitration hearing, thereby substantially and irreparably prejudicing him by foreclosing him from presenting material and pertinent evidence at the hearing. (Pet. to Vacate P 28.) In addition, Petitioner also alleges that the award should be vacated in accordance with Section 10(a)(3) of the Federal Arbitration Act, 9 U.S.C. § 10 ("the Act").  [**2]  Respondent opposes Petitioner's application for vacatur and seeks "such additional and other relief as the Court may deem just, proper and equitable." Resp. Mem. Law at 13.

For the reasons set forth below, the Court DENIES Petitioner's Application for Vacatur and CONFIRMS the award in its entirety.


Petitioner, George O. Bisnoff is a resident of Nassau County, New York. (Pet. to Vacate P 1.) During the time period relevant to this proceeding, he was employed by Whale Securities Co., L.P. ("Whale") as a registered representative for the transaction of business in Whale's New York County Office. (Pet. to Vacate P 1.) Respondent, Taylor King, is the widower of Mary Lou King and the Executor of the decedent's estate. (Pet. to Vacate PP 2-6.)

During September 1995, Mary Lou King opened a brokerage account at Whale ("the Account"). The account was located in New York County. (Pet. to Vacate P 5.) Petitioner was the registered representative at Whale for the account.

At all times relevant to the issues before this Court, Mary Lou King resided in North Carolina. (Resp. Opp. to Pet. at 2.) According to Petitioner, Mary Lou King signed a customer agreement with Whale providing [**3]  that disputes between her and Whale would be submitted to arbitration and that New York law would govern the substantive aspects of such disputes. (Pet. to Vacate P 2.)

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154 F. Supp. 2d 630 *; 2001 U.S. Dist. LEXIS 9250 **

In the Matter of the Arbitration Between GEORGE BISNOFF, Petitioner, -Against- TAYLOR KING, Respondent,

Disposition:  [**1]  Petitioner's Motion to Vacate Arbitration Award DENIED. Arbitration award AFFIRMED.


arbitration, Vacate, postponement, arbitration award, parties, confirmation, adjournment, misconduct, choice-of-law, deposition, telephone, fundamentally unfair, pertinent evidence, reasonable basis, prejudiced, videotaped, diversity, stressful, credible, disputes

Civil Procedure, Arbitration, Federal Arbitration Act, General Overview, International Trade Law, Dispute Resolution, International Commercial Arbitration, Arbitration, Preliminary Considerations, Venue, Pretrial Matters, Alternative Dispute Resolution, Securities Law, Regulators, Self-Regulating Entities, National Association of Securities Dealers, Business & Corporate Compliance, Judicial Review, Subject Matter Jurisdiction, Jurisdiction Over Actions, Contracts Law, Contract Conditions & Provisions, Arbitration Clauses, Arbitrability, Validity of ADR Methods, Governments, Legislation, Statute of Limitations, Time Limitations