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A federal district court in Nebraska confirmed an arbitration award more than a year after it was issued, applying Eight Circuit precedent holding that the one-year time period for seeking confirmation under the Federal Arbitration Act (“FAA”) is merely permissive.
In Wachovia Securities, LLC v. Riddle, No. 8:06CV233, 2006 WL 2128011 (D. Neb. July 26, 2006), Wachovia moved for confirmation of an arbitration award more than a year after if was issued.
Under Eighth Circuit precedent, the FAA’s one-year time period for seeking confirmation is permissive. Also, as the Court noted, Riddle did not demonstrate any prejudice arising from the delay. Accordingly, the Court granted Wachovia’s motion.
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