Arbitration
Where arbitrator commits in initial proceedings to issue a reasoned award, a reasoned award is required.
While an arbitrator's reasoned award need not delve into every argument raised or provide a line-by-line justification for the award, it must set forth relevant facts and factual findings.
Arguing for the original profit margins on the deal is at least a barely colorable justification for the award of same based on bad faith, which is all that is required.
Leeward Construction Co. v. American University of Antigua
Since 2011. An occasional commonplacing of the U.S. Circuit Courts of Appeal.
Neither an authoritative statement of the law nor legal advice. Quick work.