find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Corporate Lawyer
Category: Generalists - In House | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· 12 months fixed term opportunity
View details
Property lawyer - Melbourne
Category: Property Law | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Impressive client list, national firm · Well-led and high-performing team
View details
Aus well positioned to develop arbitration seat

Aus well positioned to develop arbitration seat

Australia

Australia’s strong, independent judiciary makes it a suitable jurisdiction for international arbitration, despite a minor drawback, according to two prominent Hong Kong legal professionals.

At the Hong Kong International Arbitration Week 2016 last week, the Hong Kong Secretary for Justice Rimsky Yuen SC spoke with Lawyers Weekly about Hong Kong’s success in growing its presence as a seat for international arbitration.

When asked whether Australia would be able to follow in Hong Kong’s footsteps, Mr Yuen responded positively.

“I think Australia definitely has very, very good strength to develop dispute resolution,” Mr Yuen said.

“Like Hong Kong, it has common law and a good judiciary. No one would doubt about the independence of the judiciary of Australia.”

The chair of the Hong Kong International Arbitration Center Teresa Cheng also discussed with Lawyers Weekly what makes a jurisdiction suitable to become a successful arbitration seat.

Ms Cheng said the key requirement is neutrality, and not just in the sense of being a different country to the two parties’ countries.

“To me, when people talk about neutrality they talk about three things,” she said.

“One is the neutrality of the arbitral tribunal. In other words, when I go to arbitrate in country A, I would not always end up with all three arbitrators being from country A and I would not always end up with a chair from country A. So that is the neutrality of the tribunal.”

The second aspect of neutrality, according to Ms Cheng, is the neutrality of the rules and laws in place.

“The importance of the up-to-date laws is to allow people to use the arbitral tribunal as best they can, so that you do not need to go to court as much,” she said.

“The other thing with the rules and the laws is that the transparency and certainty of the application of that has [to be] maintained.”

The final aspect of neutrality is in relation to the judiciary.

“The last, but also most important, factor of neutrality is the judiciary, because after all if something happens to go wrong, whether you want to set aside or you want to challenge something, you go to the court of the seat,” she said.

“So when it comes to neutrality it's not merely that I go to a third country. One has to look at these factors.”

While Australia does meet these requirements, Mr Yuen said there is one factor that he personally feels may hold Australia back.

“I have to say this is purely my personal opinion, but I think the only drawback suffered by Australia is the distance,” he said.

“Otherwise time difference is not significant, and people there are very nice.”

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Aus well positioned to develop arbitration seat
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Warning
Aug 23 2017
NT Law Society sounds alarm on mandatory sentencing
The Law Society Northern Territory has issued a warning over mandatory sentencing, saying it hasn’...
Unite
Aug 22 2017
Professionals unite in support of marriage equality
The presidents of representative bodies for solicitors, barristers and doctors in NSW have come toge...
Aug 21 2017
Is your firm on the right track for gig economy gains?
Promoted by The way we do business, where we work, how we engage with workers, even how we take a...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...