Enhancing Submissions by Counsel in Arbitration Hearings - ARIAS U.S. Conference
In connection with the ARIAS U.S. 2021 Fall Conference, explore thoughts on enhancing submissions by counsel in arbitration hearings. Discover insights from moderators, panelists, and arbitrators on improving practices for presenting counsel arguments and potential changes to submission structures. Engage in discussions on best practices and pitfalls to avoid in enhancing submissions in the field of arbitration.
Uploaded on Mar 16, 2025 | 0 Views
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Presentation Transcript
CYPRUS: A RISING STAR AS AN INTERNATIONAL ARBITRATION VENUE
ARBITRATION IN CYPRUS International Investment Arbitration International Commercial Arbitration Domestic Arbitration Arbitration proceedings adhere to Cap.4 and the of Cyprus Arbitration Centres. Arbitration involving international & commercial disputes governed by the Cyprus Arbitration Law 101(I)/1987 Under Bilateral Investment Agreemenets International Cyprus offers a diverse range of arbitration avenues to address both domestic and international disputes, providing businesses and investors with flexible and efficient dispute resolution options.
TO ESTABLISH CYPRUS AS A LEADING INTERNATIONAL INVESTMENT VENUE LOOK OUTWARD LOOK INWARD To other success stories of established jurisdictions, such as Singapore. Cyprus stands to gain by embracing successful practices and adapting them to Cyprus' unique context. Identify Cyprus' key strengths and determine Cyprus comparative & competitive advantage.
CYPRUS KEY STRENGTHS Geostrategic location Human Capital Robust legal system Favourable regime for registration, recognition & enforcement Warm climate & hospitality Neutrality & fairness
CYPRUS' KEY STRENGTHS Cost-Effective & Efficient Proceedings Arbitration in Cyprus is generally more cost- effective and efficient compared to other major arbitration hubs, making it an attractive option for parties seeking to minimize expenses and expedite the resolution of their disputes. Strategic Geographic Location Cyprus's strategic location at the crossroads of Europe, Asia, and Africa makes it an ideal hub for international arbitration, providing easy access to parties from various regions. Robust Legal Framework Cyprus has a well-established, modern, and efficient legal system based on common law, with a dedicated Arbitration Law and several domestic Arbitration Centers. Neutral and Impartial Jurisdiction Cyprus is widely recognized as a neutral and impartial jurisdiction, providing a neutral forum for parties from various backgrounds to resolve their disputes in a fair and unbiased manner. Highly Qualified Arbitrators Cyprus boasts a pool of highly qualified and experienced arbitrators, many of whom are internationally renowned experts in their respective fields, ensuring the highest quality of arbitration proceedings. Pro registration practices Cyprus is a party to the New York Convention and follows a pro- recognition and registration approach to arbitration
NOW IS THE IDEAL TIMING Strong government initiative Major reforms CPR on Arbitration Pro- Target ICAL Commercial Court Arbitration amendment to promote ADR and Cyprus as an ADR venue of the Cyprus legal system to encourage ADR Part 44 section II provides the procedure for arbitration claims before the Cyprus Courts In February 2024 to reflect UNCITRAL Model Law of 2006 Established to determine at first instance all commercial disputes, including arbitration English as the language of the proceedings Minimize court intervention while fostering an arbitration and ADR- friendly environment within the Cyprus legal system
Reputation Enhancement Improving the Legal Framework SCOPE FOR IMPROVEMENT Training & Education Lobbying, awareness & promotion Legal Technology Infrastructure & Facilities
Cyprus has the opportunity to leverage its strengths and take bold steps toward becoming a sought-after venue for international arbitration. The time is now, and the potential is there it s up to all of us to make it happen
