UPDATE: I've just been told that the Islanders have settled with Matt Moulson. Details to come...

Matt Moulson's arbitration hearing will begin at 9 a.m. ET in Toronto today. Both sides were planning on meeting briefly beforehand, but it looks as if this case will be settled by a third party.

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Moulson, 26, had a breakout season last year,  leading the Islanders with 30 goals after bouncing between the LA Kings team and their AHL affiliate Manchester Monarchs the previous two seasons.

Upon completion of the hearing, an arbitrator will have 48 hours to make a decision.