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The Southern District of New York Upholds Arbitration Award in Favor of Kramer Levin Client Société Générale

February 16, 2017

On Feb. 14, 2017, U.S. District Judge Alvin K. Hellerstein of the Southern District of New York confirmed an arbitration award in favor of Kramer Levin clients Société Générale and Société Générale Energy Corp., denying a motion filed by former Société Générale employee Adrian Lismore to vacate the unanimous arbitration award issued by a three-member Panel of the American Arbitration Association. Judge Hellerstein rejected Lismore’s “entirely speculative” arguments that the Chairwoman of the Panel was biased against him. The Court also held Lismore’s disagreement with the Panel’s rulings did not warrant vacatur.

The arbitration centered on Lismore’s assertions that Société Générale failed to honor an alleged promise to appoint him head of subsidiary Société Générale Energy in exchange for his work on a related acquisition, which he attributed to its alleged improper bias. He also claimed that he was demoted after the acquisition closed and was therefore owed the portions of his deferred compensation account that vested after he resigned. The Panel denied the entirety of Lismore’s claims, noting at one point that his story “simply strains credulity.”

The Kramer Levin team included Litigation partner Norman C. Simon and associates Eileen M. Patt, Sara Lefkovitz, Shaked Sivan and Harry P. Morgenthau.

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