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Two brother, both of whom are certified public accountant's (cpas), form a professional association to provide tax- accounting services to the public. They also agree in writing, that any disputes that arise between them over matters concerning the association will be submitted to an independent arbitrator, whom they designate to be their father, who is also a CPA. A dispute arises, and the matter is submitted to the father for arbitration. During the course of arbitration, which occurs over several weeks, the father asks he older brother, who is visiting on evening, to explain a certain entry in the others association accounts. The younger brother learns of the discussion at the next meeting for arbitration. He says nothing about it, however. The arbitration is concluded in favor of the older brother, who seeks a court order compelling g the younger brother to comply with the award. The younger brother seeks to set aside the award, claiming that the arbitration process was tainted by bias because "Dad always liked my older brother best." The younger brother also seeks to have a the award set aside on the basis of improper conduct in that matters subject to arbitration we discussed between the father and older brother without the younger brothers being present. Should a court confirm the award or set it aside? Why or why not?
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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