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Without more info from you it's very hard to tell. You haven't even told us how the disk is connected to the machine(yes, NFS, but it must be connected to some machine or other for nfs to work..)
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It is because the disk is having read-errors. This is a hardware problem that the kernel treats as a potential disaster(which it is), hence forcing the partition read-only.

Is it always on the...

Read or write errors could cause the OS to give up on it and force it read-only, check for anything odd with 'dmesg'.

I doubt formatting will help. These read errors don't care what filesystem's involved, they happen in raw blocks.

It's not a either-or, anyway: Not just a faulty disk or faulty partition. There...