What makes disputes in banking and finance different? After all, like most commercial disputes, their determination often requires the interpretation of contracts, deciding whether a party is liable in contract or tort, and quantifying damages. Furthermore, financial institutions are, in many respects, no different from other commercial parties to disputes. Yet, in practice banking and…
The 99th Annual Meeting of the American Branch of the International Law Association (“ILA (American Branch)”), known as International Law Weekend (“ILW”), took place virtually this year in New York City on 22-24 October 2020. This year’s conference included 27 panels, as well as an Opening Plenary Panel, a United Nations 75th Anniversary Plenary Panel, and numerous…
Indicating signals of the evolution of international arbitration, as a response to the need to keep up with a globalised legal and financial market, is not an easy task. It is not an easy task because of the different ways evolution is perceived by different circles. For some, a wind of change in international arbitration…
Financial markets participants traditionally opt for the jurisdiction of the sophisticated English or New York courts to resolve disputes arising out of complex financial transactions. However, the globalization of financial markets and the increasing involvement of parties from emerging market jurisdictions in particular, concurrently with the recent financial depression, have caused stakeholders to seek alternative…
There has been a historical antipathy of banks towards arbitration. Banks (and other financial institutions) had no incentive or particular advantage to utilize private and quicker dispute resolution methods, such as mediation and arbitration. Well-run banks will normally be in possession of collateral security before money is made available to lenders or other customers and…
