|
petition for vacatur, thereby robbing commercial arbitration of |
| its finality and making the process more complicated, time |
| consuming and expensive. Arbitrators would be effectively |
| obliged to provide detailed conclusions of law and if the |
| parties agree to judicial review for errors of fact, findings of |
| fact in order to facilitate review. In order to lay the |
| predicate for the appeal of unfavorable awards, transcripts |
| would become the norm and counsel would be required to expend |
| substantial time and energy making sure the record would support |
| an appeal. Finally, the time until resolution in many cases |
| would be greatly lengthened, and the prospect of proceedings |
| being reopened on remand following judicial review would |
| increase. |