Ireland’s new Arbitration Act is expected to attract litigants from all over the world. It is both a breakthrough and a return to arbitration’s roots, say local solicitors.
Ireland’s commercial court for claims above 1 million has a well deserved history of efficiency and robust time frame limitations. This is principally owing to its swift case management process.
The normal time period for conclusion of a case inside the court is 21 weeks, with 50% of cases determined within just sixteen weeks. But prior to the commercial court’s establishment in ’04, solicitors had been doubtful of the judicial system’s capacity to handle claims effectively and consistently. On the whole, Ireland’s mainstream courts continue to be perceived as being slow. A typical case may take up to two years to be determined. And it also can take an additional three years, except in important cases, to get an appeal heard in the Supreme Court.
High-end financial debt recovery and recession linked funds work have been flavour of the month for Ireland’s litigators. Professional indemnity work has additionally been buoyant. But the new truth is the anxiety surrounding the financial viability of a lot of defendants. “You just do not know if the funds will be there for enforcement,” states David O’Donohoe, the dispute resolution head at Arthur Cox.
Litigation – The Republic of Ireland contains a common law legal system. Its courts are required to apply the precedents set by higher courts. The Supreme Court of Ireland is the country’s highest court. Ireland’s written constitution is the standout element of the Irish law system. “It not just affects the rights of individuals,” states Liam Kennedy, the litigation head at A&L Goodbody. “When corporations tackle legislation, they frequently cite the Constitution’s freedom-of-speech and association provisions as well as its guarantee of property rights.”
The Irish Supreme Court and High Court are entitled to judicial review over all legislation. They can strike out laws that they judge to be in violation of the country’s constitution. The 1972 European Communities Act provides that European Union treaties are part of Irish law.
Arbitration – “Huge attempts have been made by all stakeholders to showcase Ireland as an attractive arbitration location,” states Michael O’Reilly, a construction partner at McCann FitzGerald Law Firm. And with the 2010 Arbitration Act Ireland is now one of the handful of nations in the world to implement the Uncitral Model Law to both domestic and also international arbitration.
Author: Helen KilroyThis author has published 1 articles so far.