Nano Gas Technologies, Inc. v. Roe

Federal 7th Circuit Court
Civil Court
Arbitration
Citation
Case Number: 
Nos. 21-1809 and 21-1822 Cons.
Decision Date: 
April 25, 2022
Federal District: 
N.D. Ill., E. Div.
Holding: 
Affirmed and reversed in part and remanded

In action seeking to enforce through turnover order arbitrator’s $650,000 award in favor of plaintiff, Dist. Ct. erred in finding that defendant could choose to pay $500,000 portion of said award out of his future stock dividends, as well as his estate after his death. While arbitrator stated that plaintiff could satisfy instant $500,000 obligation “in such manner as plaintiff chooses,” arbitrator's award lacked any indication that arbitrator granted defendant complete discretion to decide if, when and how defendant would pay award during his lifetime. As such, plaintiff could use instant request for turnover order to satisfy this portion of arbitrator’s award. Also, Dist. Ct. did not err in directing defendant to turn over stock in plaintiff’s company to satisfy remaining $150,000 of arbitrator’s award, where, contrary to defendant’s contention, award failed to contain any language indicating that defendant remain as shareholder in plaintiff’s company.