Perspectives: Sir Bernard Eder

I’ve had a happy time. My wife said at school I spent most of my time in the library. I came to 4 Essex Court in 1975. This is my home. In those days, 4 Essex Court was the number one set of chambers for commercial work and I met the head Bob MacCrindle. He was Tom Cruise, Brad Pitt, Obama, Putin… a mixture… it was like getting a part in a Hollywood film because no one got into 4 Essex Court in those days.

I remember Bob saying: ‘I’ll tell you three things. One, I’m leaving’. He went to Shearman & Sterling in Paris around the time tax rates were 98% or something like that. Second, he said, ‘you’re going to buy my chair and table’. I was 22, didn’t have any money and he said ‘that will be £100’. I said ‘okay’. I still have that furniture. Thirdly, he gave me some advice and said: ‘If you don’t have to say anything, don’t.’ That stayed with me. I’ve been incredibly short in my judgments.

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Signature Litigation: Policing arbitration – can accountability deficit be addressed?

Natalia Chumak

Partner, Signature Litigation

natalia.chumak@signaturelitigation.com

Nick Storrs

Senior associate, Signature Litigation

nick.storrs@signaturelitigation.com

Over recent decades, arbitration for dispute resolution has become increasingly popular. Commercial parties are becoming far more amenable to resolving their differences by private means rather than through national court systems, which can be more costly and time-intensive. There is, of course, nothing wrong in engaging in a private, consensual process and there are numerous advantages of doing so. But the framework within which such disputes are resolved must be unimpeachably robust in order to meet the objective in any dispute resolution process: to do justice between the parties in accordance with the law. Accordingly parties’ autonomous right to submit disputes to arbitration needs to be structured within a legislative framework which governs and regulates the arbitral process. This is in part to:

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Omani sovereign wealth fund calls in Freshfields to sue Bulgaria

Oman’s largest sovereign wealth fund has hired Freshfields Bruckhaus Deringer to take Bulgaria to arbitration over its role in the collapse in Balkan bank KTB, while the Bulgarian government has instructed Arnold & Porter to defend the claim ahead of preferred law firm White & Case.

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Law firms avoid ‘dangerous precedent’ as High Court clarifies PII rules in landmark dispute against insurer AIG

A client of City-based law firm Royds has been granted a landmark ruling over an insurance-related dispute against insurer AIG with the High Court clarifying the Solicitors’ Minimum Terms of Cover rules.

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UK to strengthen global grip on financial disputes with autumn launch of specialist banking court

Given that it has long been a part of the sales pitch for English courts that they have the specialist judges to handle complex commercial matters – and London’s status as one of the world’s leading finance centres – it’s strange that it has taken this long. But it has been confirmed this week that the UK is to create a financial court to handle major banking disputes at The Rolls Building in London.

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Winning work: TLT picks up Halliwells dispute as Irwin Mitchell loses out

TLT has been gifted with a key mandate to defend a group of 26 former Halliwells partners in a dispute with the firm’s liquidator, as well as the appeal of a further case involving nine other former partners, after Irwin Mitchell was dropped from both cases.

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The new Swiss perspective on international arbitration

Gentium Law’s Matthew Parish discusses a quiet revolution.

Switzerland is distinctive as a centre of international arbitration. It packs a punch well above its size. Although statistics about arbitration are by their nature confidential, anecdotal evidence indicates the diminutive country of a mere 7.5 million people is host to several hundreds of arbitrations per year. This is a remarkable figure.

The London Court of International Arbitration has perhaps only 150 cases per annum, while the International Chamber of Commerce hosts roughly double that number. In petite Geneva – a mere 185,000 people – arbitration lawyers may be the largest group of legal specialists in the city. Continue reading “The new Swiss perspective on international arbitration”