A federal judge has refused to vacate an arbitrator’s award despite a bank’s argument that it amounted to an illegal “golden parachute” that violates the Troubled Asset Relief Program.
In his 13-page opinion in Royal Bank America v. Kirkpatrick , U.S. District Judge Timothy J. Savage concluded that the bank’s assertion of a defense under TARP was not enough to confer federal jurisdiction under the Federal Arbitration Act.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]