24 May 2018
Roundtable: International Arbitration
By Financier Worldwide Magazine
“Eric P. Tuchmann: Looking ahead, how do you envisage the international arbitration landscape developing over the coming months and years? What trends are on the horizon?
Institutes will continue to introduce new rules and procedures. They will attempt to capitalise on the Chinese ‘One Belt, One Road’ initiative. I hope governments and courts will closely examine their attitude to enforcement of foreign awards and improve their processes. Governments need to understand the real effect that unenforceability of awards and judgments has on their economy. Less business is done, lower profits are made and the transactional costs of business are higher where there are questions over enforceability of awards. The Asian Business Law Institute in Singapore was established to aid in harmonising business laws in Asia, with enforcement of judgments and awards being the first topic examined. One hopes that this indicates a trend to focus on harmonisation of enforcement regimes in the Asian region.”
The full article can be found here.