Charles Reid, professor at the University of St. Thomas School of Law, recently spoke with the Star Tribune about the way an arbitration process works and what the legal ramifications and next steps could look like.
Timberwolves majority owner, Glen Taylor, and minority owners Marc Lore and Alex Rodriguez, will participate in a mediation session on May 1 in Minneapolis, prior to any potential arbitration should mediation not be successful.
From the story:
If one side doesn’t agree with the panel’s ruling, they can challenge the arbitration award in a public court of law, but only under certain circumstances, said Charles Reid, a University of St. Thomas law professor. Under American Arbitration Association commercial arbitration rules, which the contract says the arbitration must follow, a side can challenge the award if there’s reason to believe it was won through fraud or corruptive means, obvious partiality, or if the arbitrators engaged in misconduct or exceeded their powers, Reid said.
