Looking to the future

 MARKET VIEW – ARBITRATION

Three Crowns’ Jan Paulsson looks at how little we know about arbitration in the present and what that means for predicting the future

Speculating about the future of international arbitration is a more comfortable activity than speculating about its present, because as long as we are not talking about the near future we will not be proved wrong, or be criticised for not knowing the unknowable. But are we really entitled to assert very much about the future when we in truth know so little about the present? We are indeed reduced to speculating about the present, and it is worth reflecting on the causes and consequences of finding ourselves in such a frustrating (and humbling) predicament.

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Made to measure?

Made to measure?

 MARKET VIEW – ARBITRATION

CMS Cameron McKenna’s Guy Pendell and Lindy Patterson QC assess industry sectory arbitration and the role of the specialist institution

Arbitration is available to resolve almost any dispute between parties capable of giving legal consent. Arbitration is available for religious groups through Beth Din (for the Jewish community) and the Muslim Arbitration Tribunal (providing arbitration in accordance with Islamic Sacred Law). Meanwhile, disputes between the NHS and service providers, salary disputes for US National Hockey League players and disputes over sharemilking in New Zealand’s dairy regions can all be determined by specialist arbitration procedures. Continue reading “Made to measure?”

Luxembourg controlled management proceedings

Luxembourg controlled management proceedings

 MARKET VIEW – LITIGATION 

Bonn Steichen & Partners’ head of disputes Fabio Trevisan explores the ‘soft alternative’ to bankruptcy and what it means for both debtors and creditors

Luxembourg law provides for a range of insolvency procedures, of which the most common have as their purpose the winding-up and realisation of the assets of the debtor, namely bankruptcy and judicial liquidation; whereas other insolvency procedures, such as suspension of payments (sursis de paiement), composition with creditors (concordat préventif de faillite) and controlled management (gestion controlée), aim at preserving and/or recovering the business of the debtor. Controlled management (gestion contrôlée) was devised as a less blunt measure than bankruptcy and as a softer alternative to composition with creditors; it permits companies in a temporarily weakened financial state to find a solution while avoiding the harshness and finality of bankruptcy. The controlled management regime is governed by the Grand-Ducal Decree of 24 May 1935, supplementing the legislation on suspension of payments, composition with creditors and bankruptcy.

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Taking on the world

Taking on the world

 MARKET VIEW – LITIGATION 

Al Tamimi & Company’s Hassan Arab, Rita Jaballah and Robert Maxwell Marsh examine the growing role of the UAE as a dispute resolution hub and the benefits of conducting dispute resolution in the increasingly comprehensive legal system

With the recent US Open and New York Fashion Week, New York City has once again attracted the eyes of the world and cemented its place as one of the ‘big four’ of tennis and fashion, respectively. But is there a ‘big four’ for global commercial law dispute resolution? The United Arab Emirates (UAE), in its concerted efforts over the past ten years to respond to the needs of the business community and match the highest international legal standards, is well on the way to placing Dubai, alongside New York, London and Singapore, as one of the international ‘big four’ of corporate dispute resolution. Continue reading “Taking on the world”

Small islands, big cases

Small islands, big cases

 MARKET VIEW – LITIGATION 

Maples and Calder’s BVI managing partner, Arabella di Iorio, looks at complex commercial litigation in the British Virgin Islands

We all know the oft-repeated statistics: the hundreds of thousands of British Virgin Islands (BVI) incorporated companies, the hedge funds, the limited partnerships, the captive insurance companies. Those of us fortunate enough to live here also know that the BVI is among the most beautiful places on earth. But what is just as often forgotten is that the development of the BVI as a sophisticated offshore financial centre has gone hand in hand with its development as a jurisdiction able to handle the most complex international litigation.

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A better Judiciary to realise Turkey’s potential

A better Judiciary to realise Turkey’s potential

 MARKET VIEW – LITIGATION 

Mehmet Gün, senior partner at Gün + Partners, examines the difficulties facing the Turkish judiciary and how essential a first-class justice system is to Turkey’s progress

In the 1980s, Turkey undertook significant liberalisation of its national economy. Since then, liberalisation has increasingly become a pivotal part of the international economy. Between the 1980s and 2000, Turkey learnt some very important lessons in the form of economic crises and was saved by International Monetary Fund programmes.

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Jackson – Light at the end of the tunnel?

 MARKET VIEW – LITIGATION 

Enyo Law’s Peter Fitzpatrick, Annabel Thomas and Lauren Gash analyse how the Jackson reforms are bedding down a year after they came into force

Over a year has passed since the Jackson reforms came into force in April 2013 under the Legal Aid, Sentencing and Punishment of Offenders Act. Like the Woolf reforms before them, the aim of the reforms was to cut the cost of civil litigation and streamline cases, reducing the use of court time and encouraging early settlement.

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The Disputes Dilemma

The Disputes Dilemma

 MARKET VIEW – INTRODUCTION 

Quinn Emanuel’s Ted Greeno weighs up the pros and cons of the different dispute resolution options and offers his insight into which option to pursue

It’s an old chestnut: which is better, litigation or arbitration? This is the third attempt I have had at it. In the first, I wrote an article singing the praises of arbitration over litigation. In the second, I debated for the motion: ‘This house considers that litigation is better than arbitration’, at a Commercial Litigators Forum event. On that occasion, my opponent (now partner at Quinn Emanuel Urquhart & Sullivan), Stephen Jagusch, used the entirety of his allotted time to quote my article back at me. So I approach this question with caution.

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The agony of choice

The agony of choice

 MARKET VIEW – LITIGATION 

Bär & Karrer partners Daniel Hochstrasser and Nadja Jaisli Kull discuss the dos and don’ts to be considered when appointing arbitrators

For all of its emphasis on privacy, procedural flexibility and the reassurance that comes with a widely-adopted enforcement regime in the form of the New York Convention, parties remain attracted to international arbitration for a sometimes-overlooked, but equally important, factor: the ability to select their own decision-makers. In some ways, however, being spoilt for choice can make picking one’s candidate that much more difficult. Do you go for the expensive ‘name’ arbitrator? The Big Law associate tipped for great things but with comparatively few appointments to their name? Or, for counsel and arbitrators of a certain generation, the most unthinkable move of all – a woman?

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Better late than never

 MARKET VIEW – LITIGATION 

The Honourable Marc Lalonde on Canada’s accession to the ICSID Convention and why it took so long to ratify

Since the end of World War II, Canada has played a role in international affairs well above its relative economic or military power, whether at the United Nations or in other international institutions such as the World Trade Organisation (WTO) or the G5 (then G7, G10 and G20). It has also pursued the advancement of its economic interests through the signing of some 30 bilateral investment protection treaties (BITs or Foreign Investment Promotion and Protection Agreements (FIPAs) as they are called in Canada) as well as the North American Free Trade Agreement of 1994 (NAFTA). And although it may take a few more years before it is ratified, a preliminary agreement has also been reached recently with the European Union on the text of the Comprehensive Economic and Trade Agreement (CETA), well ahead of the US, which is just starting such negotiations. It is also actively participating in the current Trans-Pacific Partnership Free Trade Negotiations.

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