Luis Sebastian Sayeg Seade (“Sayeg”) was employed by Banco Nacional de México, S.A. (“Banamex”), a wholly-owned indirect subsidiary of Citigroup, organized under the laws of Mexico with a principal place of business in Mexico. During Sayeg’s employment with Banamex, Citigroup had in place various incentive plans (the “Plans”), which granted incentive compensation to its employees. All of the Plans contained arbitration clauses.
Sayeg’s employment ended in 2019 when he signed a Termination and Release agreement with Banamex. Sayeg was paid the equivalent of $3.5 million U.S. dollars in exchange for a broad, general release in favor of Banamex and Citigroup. The Termination and Release agreement contained an arbitration clause, as well as a commitment by Sayeg not to file suit in Mexico or the U.S. against Banamex or Citigroup…
Read the full story here.
This article first appeared in the Securities Arbitration Alert Blog here. We reported in December that the Supreme Court had granted Certiorari in four cases involving arbitration. The Court has just set...By George Friedman
Introduction The conversation about cybersecurity in international arbitration has been going on for quite a while now, perhaps mostly in parallel with the discussion on personal data protection. In recent...By ,
This article first appeared on Urbas Arbitral, here. Distinguishing between actions involving personal and real rights, Mr. Justice Martin Castonguay in Specter Aviation v. Laprade, 2020 QCCS 4392 held that article 3148...By Daniel Urbas