Pub. 4 2013 Issue 3

www.wvbankers.org 10 West Virginia Banker circuit court’s dismissal of a complaint to vacate an arbitration award because the complaint challenging the arbitration award was not filed within three months of the arbitrator’s award, as required by the Federal Arbitration Act. American Express Co. v. Italian Colors Restaurant, 570 U.S. (2013). In American Express Company v. Italian Colors Restaurant , the United States Supreme Court considered the enforceability of a clause prohibiting class action arbitration of any claim, even when the cost of individually arbitrating the claim would likely exceed the potential recovery. The opponent argued the economies of individual litigation would contravene the policies of federal an- ti-trust law. The Court affirmed that an agreement to arbitrate is a matter of contract, which terms must be enforced under the Fed- eral Arbitration Act absent a “contrary congressional command.” Finding no such command, the Court held that a waiver of class action arbitration is enforceable, even if a class action is the more economically feasible means to pursue the federal-law claim. These decisions highlight just a few of the factors that may be considered by a court in determining the validity and enforceability of an arbitration provision. If you are seeking to draft or enforce a valid arbitration provision, you should consult an attorney for a complete assessment of the factors that must be considered. n Angela L. Beblo is a Senior Attorney at Spilman Thomas & Battle, PLLC. Her primary areas of practice are consumer finance, litigation and mine safety law. Contact Angela Beblo at 304.340.3852 or abeblo@spilmanlaw.com. Brienne T. Marco is an Associate at Spilman Thomas & Battle, PLLC. Her primary areas of practice are consumer finance and general litigation. Contact Brienne Marco at 304.720.4060 or bmarco@spilmanlaw.com. Sarah B. Smith is an Associate at Spilman Thomas & Battle, PLLC. Her primary areas of practice are consumer finance and general litigation. Contact Sarah Smith at 304.720.4071 or ssmith@spilmanlaw.com. Scott N. Drake, CPA Scot E. Orndorff, CPA Michael P. Manspeaker, CPA 717-263-3910 888-272-7351 www.sek.com sdrake@sek.com Carlisle, PA Chambersburg, PA Hagerstown, MD Hanover, PA CELEBRATING 50 YEARS OF PROVIDING SERVICES TO COMMUNITY BANKS INSIGHT. INTEGRITY. RESULTS. TM Smith Elliott Kearns & Company, LLC Certified Public Accountants & Consultants  Arbitration Provisions — continued from page 9