• Journal of Arbitration Studies
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• v.14 no.2
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• pp.107-133
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• 2004

In these days, arbitration helps alleviate some of the burden of a heavy caseload from the judiciary and is a viable method to resolve disputes in a relatively quick and efficient manner. An award of punitive damages is often the most significant and detrimental part of an award arising from a judicial or arbitral proceeding. In 1995, the United States Supreme Court resolved a circuit split. upholding an arbitral panel's authority to award punitive damages under a securities arbitration agreement. This decision was monumental in establishing arbitral power. However, it left several questions unanswered. For example, which, if any, standards should be applied to such awards？ The decision in Sawtelle, adopting a separate ground for review of punitive damages awards, is one that signals a significant change in the field of arbitration. This article addresses the reviewability of punitive damages awards arising out of a securities arbitration hearing. It would be necessary to introduce securities arbitration system to our disputes resolution system. Compared to American practices, there could be many differences in recognition on arbitration and legal structure in our country. Thus it will be a future assignment to consider seriously and carefully what kind of securities arbitration system will be proper for us. This article analyzed predispute arbitration agreements and agreements to arbitrate after a dispute has already arisen.

• Nuclear Engineering and Technology
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• v.49 no.2
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• pp.426-433
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• 2017

This paper describes the development process, the innovative techniques used and insights gained from the latest integrated, full scope, multistate Level 2 PSA analysis conducted at the Leibstadt Nuclear Power Plant (KKL), Switzerland. KKL is a modern single-unit General Electric Boiling Water Reactor (BWR/6) with Mark III Containment, and a power output of $3600MW_{th}/1200MW_e$, the highest among the five operating reactors in Switzerland. A Level 2 Probabilistic Safety Assessment (PSA) analyses accident phenomena in nuclear power plants, identifies ways in which radioactive releases from plants can occur and estimates release pathways, magnitude and frequency. This paper attempts to give an overview of the advanced modeling techniques that have been developed and implemented for the recent KKL Level 2 PSA update, with the aim of systematizing the analysis and modeling processes, as well as complying with the relatively prescriptive Swiss requirements for PSA. The analysis provides significant insights into the absolute and relative importances of risk contributors and accident prevention and mitigation measures. Thanks to several newly developed techniques and an integrated approach, the KKL Level 2 PSA report exhibits a high degree of reviewability and maintainability, and transparently highlights the most important risk contributors to Large Early Release Frequency (LERF) with respect to initiating events, components, operator actions or seismic component failure probabilities (fragilities).