The action grows out of a 1980 contract dispute between defendant Nordstrom, Inc. and Ultracashmere Ltd., a fabric manufacturer of which plaintiff Bart Schwartz is sole shareholder. Arbitration proceedings resulted in an award of $24,500 to Ultracashmere Ltd. on June 14, 1987.
In July of 1987 plaintiff commenced an action in Supreme Court, New York County to vacate the award. The action was removed to the United States District Court for the Southern District of New...
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