District Court Orders Party to Withdraw Actions in Mexico Because the Parties Agreed to Arbitrate All Disputes and…

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.

Featured Arbitrators

ad
View all

Read these next

Category

Canada – Under New B.C. Act, Third Party May Apply to Arbitrator OR Court to Set Aside Subpoena Issued by Arbitrator

This article first appeared on the Arbitration Matters blog, here. In Terrace Community Forest LLP v Skeena Sawmills Ltd., 2021 BCSC 1522, Justice Milman dismissed an application brought by the petitioner, Terrace...

By Lisa C. Munro
Category

Arbitration Conversation No. 54: Canadian Arbitrator Myriam M. Seers, Senior Associate at Torys LLP

In this episode of The Arbitration Conversation, Amy interviews Myriam Seers, an experienced arbitrator and Vice-Chair of the ICC Canada Arbitration Committee. They discuss how technology tools can be leveraged...

By Myriam Seers, Amy Schmitz
Category

Canada – For those SCC Justices Willing to Consider it, Vavilov Applies to Private Commercial Arbitration where Legislation Provides for Appeal

This article first appeared on Urbas Arbitral, here. Canada’s Supreme Court in Wastech Services Ltd. v. Greater Vancouver Sewerage and Drainage District, 2021 SCC 7 offered to clarify a contracting party’s duty...

By Daniel Urbas

Find an Arbitrator

X
X
X