Partners of Interlegal held the international seminar “London Maritime and Commercial Arbitration (LMAA, GAFTA, FOSFA, High Court of Justice)”
On the 8th of September 2014 the international seminar “London Maritime and Commercial Arbitration (LMAA, GAFTA, FOSFA, High Court of Justice)” was held at the conference hall of the Sheraton Hotel in Batumi. The seminar was co-organized by Interlegal (Ukraine) and Marine Legal Advisers Co Ltd» (Georgia).
Captain Pata Imnaishvili, partner of Marine Legal Advisers Co Ltd, presented a welcome speech. He stated that globalization in the up-to-date world resulted in integration of Azov and Black Sea Region into the single world space of cooperation and development. With this sea transportation is a very important component of the economy of all the countries in that region. Therefore the English law, which dominates in commercial navigation relationship, plays an important role at the local level in the process of settling maritime disputes. The important component of this process is the use of commercial arbitration in London as in the venue of consideration of disputes upon most charter parties and commercial contracts.
Such development of relationship between the parties of sea transportation within the industry and the region sets a task for maritime lawyers to make London Arbitration more available, more comfortable and cheaper for our clients.
Partners of Interlegal shared their experience of case proceeding at English arbitrations and courts. No doubt, this topic is vital because most of proformas developed by non-governmental international organizations, in order to facilitate performance of supply/sea carriage agreements (including those intended for rendering auxiliary transportation services), provide London Arbitration under the English procedural law. Contract parties select also English law as an applicable substantial law in international relationship. It is not accidental because there are no other law systems which can govern relationship in commercial trade and navigation both precisely and transparently. English language has been the most important language of trade and navigation for a long time. Both English arbitration and English court show the example of impartiality, professionalism and open-mindedness in consideration and settlement of disputes. The most popular is the English maritime arbitration of the London Maritime Arbitrator’s Association (LMAA). Arbitration tribunals consisting of LMAA arbitrators consider more disputes than all maritime arbitration institutes of the rest of world. The important merits of English arbitration are quite small arbitration expenses and quick process of making decisions. It is also quite simple to enforce arbitral awards due to worldwide application of New York Convention 1958 on Recognition and Enforcement of International Commercial Arbitral Awards. Arthur Nitsevych, partner of Interlegal, paid special attention to the issues related to recognition and enforcement of English arbitration awards abroad, in particular by means of obtaining the Worldwide Freezing Order (WFO).
Nataliya Myroshnychenko, associated partner of Interlegal, told about certain cases from the practice of Interlegal considered by arbitrations in Grain and Feed Trade Association (GAFTA) and Federation of Oils, Seeds and Fats Associations (FOSFA). Arbitration tribunals created in the framework of these institutions work in London and also belong to English Arbitration. Nikolay Melnykov, partner of Interlegal, moderated the seminar and took an active part in discussions.
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