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 West Virginia, it may be subject to civil penalties, fines, and/or punitive damages. The party may also be subject to interest on the award, as well as attorney’s fees and costs. It is important for anyone involved in securities arbitration to comply with the award in a timely manner, as failure to do so may result in further litigation. The court may take various measures to ensure that the party is held accountable for their failure to comply with the award. For example, they may issue a court ordered judgment against the party in order to enforce the award. This judgment will not only state the amount of the award, but also include any associated attorney’s fees and costs, as well as any applicable interest or punitive damages. If a party fails to comply with the award within a certain period of time, they may be subject to additional sanctions or penalties as determined by the court. Such sanctions may include additional fines, wage garnishment, and/or asset seizure. It is important to note that a securities arbitration award is legally binding and must be respected by all parties involved. A party who does not comply with the award could be subject to serious legal consequences. Therefore, if an arbitration award is issued, it is important to comply with the award in order to avoid future legal issues.
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