In a June 28, 2010, decision by Justice Sherwood, the court denied respondent’s motion to confirm an arbitration award in connection with a dispute over the valuation of a condominium apartment. The arbitrator determined in his award that the final buyout amount would be subject to and offset by, among other things, certain credits related to the parties’ respective payment of expenses on the apartment over the years. When the parties submitted conflicting calculations of the value of the apartment in connection with respondent’s motion, the court found that the award was “not sufficiently specific and definite to constitute a final award, and, for enforcement purposes, warrants more than a ministerial act or arithmetic calculation to arrive at the buyout amount.” Because the award was not sufficiently final and definite, the court denied the motion and remitted the matter to the arbitrator for a hearing on the buyout amount of the apartment.
Johnson v Caputo, Sup Ct, New York County, June 28, 2010, Sherwood, J., Index No. 117063/07