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Arbitrator Erred In Double Recovery Of Profit Profit; Arbitration

Friday, May 02, 2003 02:48 pm

 
Arbitrator Erred In Double Recovery Of Profit Profit; Arbitration

A Louisiana court has ruled that an arbitrator erred when computing lost profit as a percentage of the subcontract price. The award constituted double recovery to the extent the subcontractor had received progress payments under the subcontract.

Leon Angel Constructors, Inc. was the prime contractor for a courthouse renovation project in DeSoto Parish. Angel subcontracted the electrical work to Kirk Knott Electric, Inc. The subcontract called for arbitration of disputes in accordance with the rules of the American Arbitration Association.

Angel subsequently terminated the electrical subcontract. An arbitration proceeding [...]

 
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