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Having an effective mechanism for the resolution of disputes with customers in the developing markets presents particular challenges for commercial, industrial and financial enterprises based in mature jurisdictions such as our own.
This seminar will examine the challenges which typically arise in connection with disputes in those markets as follows:
● in a number of developing market jurisdictions, the enforcement of a foreign court judgment (such as from the English High Court) is not achievable;
● some developing markets jurisdictions lack dedicated commercial courts; and
● existing local laws and regulations in developing markets often long pre date current commercial practices.
At this seminar, members will be briefed on:
1. P.R.I.M.E. Finance (based in The Hague) which (1) has a panel of over 100 legal and financial markets experts who provide an international tribunal for resolving complex financial disputes; (2) runs a number of training programmes for judges both in the developing and mature markets and (3) is compiling an authoritative database of relevant law.
2. The 2013 ISDA Arbitration Guide which was published last month by the International Swaps and Derivatives Association, Inc. and contains a range of model arbitration clauses. A copy of the guide will be included in the delegates’ materials. This latest initiative is pertinent because of the number and diversity of counterparties from the developing markets who transact a wide range of OTC derivatives, not only in relation to foreign exchange but also commodities and freight.
3. Russia will be presented as a case study. The topics to be covered will include (1) Russian arbitration law and its future development; (2) Russian country specific risks – pitfalls and solutions and (3) notorious defences employed by Russian parties in international arbitrations.
Simon Firth - Partner, Linklaters LLP
Dr Roman Khodykin
Dr Peter M Werner
6.00pm - 8.00pm
This event will be accredited for 2 CPD points