Whirlpool Corp. v. Philips Electronics, N.V.
This case involves Whirlpool Corporation seeking to confirm a foreign arbitral award against Philips Electronics N.V., while Philips moved to dismiss or stay the action pending further arbitration. The dispute arose from a joint venture and subsequent acquisition of Philips' Argentine MDA operations by Whirlpool, specifically concerning the revaluation of fixed assets and the applicable accounting policies under their Reorganization and Purchase Agreement (RPA) and Amendment No. 1. An initial arbitration before Arthur Andersen & Co. ruled in favor of Whirlpool, determining that Schedule G of the RPA, which limited asset revaluation, applied despite Philips' arguments for a different "Schedule G (Argentina)." The court, presided over by District Judge Sweet, affirmed Andersen's jurisdiction and the validity of its binding award. Consequently, Whirlpool's motion to confirm the foreign arbitral award was granted, and Philips' motion to dismiss or stay the action was denied.