Interlegal at LMAA Seminar in Rotterdam

On 8^th June Ekaterina Gadetskaya took part in LMAA Seminar “Straight from the Horse’s Mouth” in Rotterdam.

The main theme of Seminar was a review of New LMAA Terms, LMAA Small Claims Procedure and LMAA Intermediate Claims Procedure, which came into effect on 1 May 2017, by the present LMAA President, Mr. Ian Gaunt, Past LMAA President, Mr. Clive Aston and the LMAA Honorary Secretary, Ms. Daniella Horton.

Changes to LMAA procedures are being made every 5 years in order to reflect the concerns of lawyers and parties to arbitration. The overall objectives of the present changes are speed and cost of arbitration, maintaining the “light touch approach”, which allows the parties to modify the procedures so as to fit the particular case.

The issues of speeding up the appointment process, efficiency of disputes’ consideration and case management by Association were discussed, as well as the peculiarities of costs both of the Tribunal and the parties. New instruments designed to enable the Parties to control the costs of arbitration were introduced in LMAA Rules 2017.

The revision of LMAA Small Claims Procedure and Intermediate Claims Procedure were touched separately.

Upon revision of the new Terms, the participants had a unique opportunity to discuss the question concerning the application of the new Rules with the LMAA officials.

Interlegal highly appreciates the organization of the event, the vivid dialogue between the lawyers and LMAA officials and the participants of the seminar.