Is it possible to challenge a securities arbitration award in a court of law?
Yes, it is possible to challenge a securities arbitration award in a court of law in Georgia. The laws that govern how a securities arbitration award is enforced are known as the Uniform Arbitration Act. This act allows for a party (or their representative) to challenge an award if they can show that it was illegal, the award was procured by fraud or corruption, or the arbitrators exceeded their powers. A party wishing to challenge an arbitration award must first attempt to appeal the award through the arbitration process. If the appeal is unsuccessful, then the party can take their case to court. In Georgia, the party will need to file a complaint with the court that issued the award. They must also provide the court with supporting documents that list the issues that were raised during the arbitration. The court will review the documents and may overturn the award if it finds that the arbitrator exceeded their powers or the award was obtained by fraud or corruption. However, the court will only overturn the award on very limited grounds. If the court finds that the award was issued correctly, then it will be enforced by the court as if the award was issued by the court itself.
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