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ACF INDUSTRIES HOLDING CORP. v. WACHOVIA CAPITAL MARKETS LLC

22 A.D.3d 426 (2005)

803 N.Y.S.2d 53

ACF INDUSTRIES HOLDING CORP., Plaintiff, and ACF INDUSTRIES LLC, Appellant, v. WACHOVIA CAPITAL MARKETS LLC, et al., Respondents.

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

October 27, 2005.

The motion court correctly held that any possible preclusive effect of an arbitration with respect to plaintiff's engagement agreement with defendant Wachovia Capital does not by itself justify a stay of that arbitration pending determination of this action involving the underwriting agreement between plaintiff and Wachovia Securities (see GAF Corp. v. Werner, 66 N.Y.2d 97, 102 [1985], cert denied 475 U.S. 1083 [1986];

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