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ARECA, INC. v. OPPENHEIMER & CO., INC.

No. 96 Civ. 4068 (DC).

960 F.Supp. 52 (1997)

ARECA, INC., and Enrinel Investment Corp., Claimants and Petitioners, v. OPPENHEIMER & CO., INC. and Leonel R. Roche, Respondents, and OPPENHEIMER & CO., INC., Third Party Petitioner, v. PALLI HULTON & ASSOCIATES, Respondent.

United States District Court, S.D. New York.

April 4, 1997.

Attorney(s) appearing for the Case

Gusrae, Kaplan & Bruno by Martin H. Kaplan, Melvyn J. Falis, John E. Bersin, New York City, for Areca, Inc. and Enrinel Investment Corp.

Rosenman & Colin L.L.P. by Marshall H. Fishman, John D. Singer, New York City, for Oppenheimer & Co., Inc. and Leonel R. Roche.

MEMORANDUM DECISION

CHIN, District Judge.

Petitioners Areca, Inc. ("Areca") and Enrinel Investment Corp. ("Enrinel") move to vacate or modify a March 4, 1996 arbitration award entered in favor of respondents Oppenheimer & Co., Inc. ("Oppenheimer") and Leonel R. Roche ("Roche"), the head of Oppenheimer's Commodity Department, dismissing petitioners' Statement of Claim in its entirety. Petitioners assert three grounds in support of vacatur: (1)...

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