MTR. OF STEVENS & CO. (RYTEX CORP.)


41 A.D.2d 15 (1973)

In the Matter of the Arbitration between J. P. Stevens & Co., Inc., Respondent, and Rytex Corporation, Appellant

Appellate Division of the Supreme Court of the State of New York, First Department.

February 22, 1973.


Attorney(s) appearing for the Case

Milton S. Teicher for appellant.

Melvin Beinart of counsel (J. J. L. Hessen with him on the brief; Hahn, Hessen, Margolis & Ryan, attorneys), for respondent.

McGIVERN, KUPFERMAN and LANE, JJ., concur with CAPOZZOLI, J.; STEVENS, P. J., dissents in an opinion.


CAPOZZOLI, J.

The usefulness and strength of the arbitration process is found in the fact that, generally, persons appointed as arbitrators are those with definite and important ties with the business world. Arbitrators do not ordinarily rely, for their livelihood, on fees received while serving as such. More often than not they are in the very business which has led to the controversy between the adverse parties...

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