Next, you should petition the Motion to Compel Arbitration in the district where your arbitration is supposed to be held. After confirming that the dispute is eligible for arbitration, you'll need to determine the place where you agreed to arbitrate. Before filing a Motion to Compel Arbitration, ensure the dispute subject matter falls within the arbitration agreement.ĭetermine where the arbitration will take place. For instance, you may have an agreement with your employer that categorizes pay disputes as an arbitrable issue but other types of work disputes as non-arbitrable. Some agreements may create exceptions for arbitrable issues and non-arbitrable issues. Make sure the dispute falls under the arbitration provision. If an agreement exists, confirm if it was signed by both parties. For this reason, you'll need to go through the contract you had with the other party and check to see whether you had an agreement. Without a valid arbitration agreement, you can't bring a Motion to Compel Arbitration in court. Below are some tips to successfully file a petition to compel arbitration.Įnsure you have a valid arbitration agreement. How to file a Motion to Compel Arbitrationīefore filing a Motion to Compel Arbitration, ensure that you meet the set prerequisites for arbitration. Make the right defense the right way with SoloSuit. The court can only deny a petition for arbitration if the non-arbitrable issues are outside the scope of the parties. If a complaint contains arbitrable and non-arbitrable claims, the court can't deny a Motion to Compel Arbitration even if the litigation involves non-arbitrable issues. On the other hand, when arbitration is non-binding, it means that the decision made by the arbitrator is just a recommendation and can only be enforceable if both parties accept the recommendation. Binding arbitration means that the decision made by the arbitrator is final and can be enforced in court. You can compel arbitration as long as you have a valid and enforceable written agreement to force the other party to submit the dispute to arbitration.įor instance, if a debt collector sues you, you can file a Motion to Compel Arbitration to avoid going to court or delay the court process.Īrbitration can either be binding or non-binding. One such motion is the Motion to Compel Arbitration. In the motion, the attorneys argue that Gemini Earn was not a security and that DCG did not promote the product.Summary: Are you trying to file a Motion to Compel Arbitration? Find out how to do it the right way with this free sample Motion to Compel Arbitration.Ī motion requests the court for a specific ruling, direction, or order. The attorneys argue that the promissory note was “entirely valid” and “properly vetted and endorsed” by DCG’s board of directors and advisors, and that statements DCG made about its business operating “normally” were too vague to be the basis for a fraud claim.įinally, the attorneys cite New York’s Martin Act, a statute that provides the OAG with its regulatory authority and states that fraud must come from business activity related to securities or commodities. The attorneys further argue that the attorney general’s accusations of fraud against DCG hinge on “retweets” by DCG of messages tweeted by others about the financial state of the company, and that federal statute prohibits liability for retweeting content posted by others. In its motion to dismiss, DCG argues that it was not involved with many of the charges in the lawsuit, including that Gemini misrepresented the risks of the Earn program to its customers. James pointed specifically to a $1.1 billion promissory note that DCG issued to Genesis in the wake of the collapse of Three Arrows Capital, which it argued was part of a “scheme” to defraud investors. Genesis and Gemini faced lawsuits from both the Securities and Exchange Commission and the New York Office of the Attorney General, with the latter accusing DCG and Genesis of misrepresenting their financial state to Gemini and the public. The program collapsed in 2022 following the failure of Genesis’s counterparties, with Genesis halting withdrawals in November 2022 and soon filing for bankruptcy. In the background, Gemini partnered with Genesis to lend out the customer assets, which in turn lent the cryptocurrency to firms like Three Arrows Capital and Alameda Research. Gemini created the Earn program in 2021 amid the crypto bull market, as companies like Celsius and BlockFi allowed customers to park their crypto assets in return for high yields that dwarfed offerings from traditional banks.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |