Are there any special rules concerning attorney fees in securities arbitration?

In North Carolina, there are special rules concerning attorney fees in securities arbitration. Generally speaking, arbitrators are prohibited from ordering the unsuccessful party to pay attorney fees to the successful party. However, the parties may agree that one of them will pay the attorney fees of the other, or that the successful party will receive an allowance of fees from the unsuccessful party. It is important to note that if the arbitration is conducted by a private arbitration panel, the panel must take into account whether or not an attorney was required in order to determine the award of attorney fees. An attorney may be necessary depending on the complexity of the case or if an attorney is needed to properly represent the party in the arbitration. In addition, a party to a securities arbitration proceeding may be entitled to recover attorney fees if the other party was unreasonable in refusing to recognize the rights of that party. However, if the parties have an agreed attorney fee arrangement, that agreement will prevail. In any case, it is always advisable for a party to retain counsel if they are involved in a securities arbitration. An attorney can help ensure that the party’s rights are adequately represented and that the fees they pay are reasonable.

Related FAQs

Are there any special rules concerning attorney fees in securities arbitration?

Related FAQs

Related Blog Posts