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MATTER OF INSTITUTO DE RESSEGUROS DO BRASIL v. FIRST STATE INS. CO.

221 A.D.2d 266 (1995)

634 N.Y.S.2d 79

In the Matter of Instituto De Resseguros Do Brasil, Appellant, v. First State Insurance Company, Respondent

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

November 28, 1995

The IAS Court properly confirmed and entered judgment upon the February 25, 1994 Arbitration Award ("the Second Award"), which incorporated by reference the terms of the arbitration panel's unanimous October 5, 1992 Arbitration Award ("the First Award"), although the Second Award was signed by only one of the three original arbitrators.

Arbitration is essentially a creature of contract in which the parties themselves charter a private tribunal for the resolution of...

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