Louisiana Law Does Not Preempt N.Y. Convention, 5th Circuit Rules
November 10, 2009
NEW ORLEANS - Louisiana state law does not reverse-preempt the Convention on the Recognition and Enforcement of Foreign Arbitral Awards and therefore does not bar London reinsurers from arbitrating a contract dispute, a federal appellate court has ruled. Safety National Casualty Corp. v. Certain Underwriters at Lloyd's, London, et al., No. 06-30262 (5th Cir.).
An en banc majority of the 5th Circuit U.S. Court of Appeals ruled Nov. 9 that The Convention on the Recognition and Enforcement of Foreign Arbitral Awards is not considered an "act of Congress" within the meaning of the McCarran-Ferguson Act and is therefore not preempted …