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LEHMAN BROTHERS, INC. v. COX

43 A.D.3d 352 (2007)

841 N.Y.S.2d 265

LEHMAN BROTHERS, INC., Respondent, v. RODNEY T. COX, Appellant.

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

Decided August 23, 2007.

The arbitrators awarded Lehman Brothers $122,000 for Cox's margin debt plus interest. Given the necessary underlying determination that Lehman Brothers was entitled, as it had claimed from the outset, to the full claimed margin debt plus interest, and given this Court's prior determination (see Cox v Lehman Bros., Inc., 15 A.D.3d 239 [2005]), the grant of Cox's counterclaim was not within the arbitrators' authority.

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