Perini Corporation, a Massachusetts Corporation, Plaintiff-Appellant v. Greate Bay Hotel & Casino, Inc., T/A Sands…

Summary

The Supreme Court of New Jersey affirmed the Appellate Division’s judgment upholding an arbitration award of over $14.5 million against Perini for lost profits. The Court held that the alleged mistakes of law alleged by Perini were not sufficiently gross or manifest to warrant vacating the award, and that the scope of judicial review of arbitration awards remains narrow. The decision also reaffirmed the limited circumstances under which courts may set aside arbitration awards, emphasizing deference to the arbitral process.