What happens if a party fails to comply with a securities arbitration award?

If a party fails to comply with a securities arbitration award in New Mexico, the non-complying party can be held responsible for non-payment. This can be enforced by a court order or by a notice from the securities arbitration award recipient. If the non-complying party continues to refuse to pay the award, the securities arbitration recipient can bring a court action to force the payment. The court action will require the non-complying party to pay the award, along with any other fees or costs associated with bringing the action. Depending on the case, the court may also impose additional fines or penalties on the non-complying party. The court may also require the non-complying party to pay the costs of the arbitration process, including the expenses incurred by the other party for the services provided by the securities arbitration lawyer. If the non-complying party is unable to pay the award, the court may order other remedies. In some cases, the court may put a lien on the non-complying party’s property or garnish their wages. In other cases, the court may order the non-complying party to pay the award to a third party, such as a charity. In extreme cases, the court may even order the non-complying party to go to jail until they comply with the award. In New Mexico, failure to comply with a securities arbitration award is a serious matter and should not be taken lightly. If a party fails to abide by the award, the court is likely to take action in order to enforce it.

Related FAQs

What happens if a party fails to comply with a securities arbitration award?

Related FAQs

Related Blog Posts