GOLDMAN SACHS v. OFFICIAL UNSECURED CREDITORS'

No. 10 Civ. 5622 (JSR).

758 F.Supp.2d 222 (2010)

GOLDMAN SACHS EXECUTION & CLEARING, L.P. (f/k/a Spear, Leeds & Kellogg, L.P.), Petitioner, v. The OFFICIAL UNSECURED CREDITORS' COMMITTEE OF BAYOU GROUP, LLC, et al., on behalf of Bayou Group, LLC, Bayou Management, LLC, Bayou Advisors, LLC, Bayou Equities, LLC, Bayou Fund, LLC, Bayou Superfund, LLC, Bayou No Leverage Fund, LLC, Bayou Affiliates Fund, LLC, and Bayou Accredited Fund, LLC, Respondent.

United States District Court, S.D. New York.

November 30, 2010.


Attorney(s) appearing for the Case

Eric Andrew Bensky , Howard Schiffman , Schulte, Roth & Zabel LLP, Washington, DC, for Petitioner.

John G. Rich , Ross Bryan Intelisano , Rich & Intelisano, LLP, Daniel Allan McLaughlin , Sidley Austin LLP, New York, NY, for Respondent.


OPINION AND ORDER

JED S. RAKOFF, District Judge.

Although arbitration is touted as a quick and cheap alternative to litigation, experience suggests that it can be slow and expensive. But it does have these "advantages": unlike courts, arbitrators do not have to give reasons for their decisions, and their decisions are essentially unappealable. Here, petitioner Goldman Sachs Execution & Clearing, L.P. ("Goldman Sachs"), having voluntarily chosen...

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