Arbitration is widely accepted as an alternative form of resolving commercial disputes, particularly in the context of international commercial transactions. Unlike litigation, arbitral proceedings are private and flexible in nature. In the international arena, arbitral awards are generally superior to court judgments in terms of their enforceability by reason of the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards. CommBar recognises the growing importance of international arbitration in the Asia Pacific region.
Many of our members have expertise acting for clients in domestic and international commercial arbitrations. A number of junior members of CommBar also have experience and expertise in international commercial arbitration derived from a combination of academic study, prior experience at major national and international commercial law firms and serving as Tribunal secretaries on large arbitrations. Finally, CommBar has a number of members who are approved arbitrators with national and international bodies.
Our members also have substantial experience in other forms of alternative dispute resolution (‘ADR’), including mediation, expert determination and hybrid dispute resolution processes. Victoria is a leading Asia-Pacific jurisdiction for ADR. The Victorian government has recently announced its commitment to assisting the growth of ADR in Victoria. Moreover, corporate clients and others are increasingly focusing on resolving disputes other than by way of litigation before the courts because of the potential cost savings and other advantages associated with ADR. ADR is an efficient means of resolving disputes. It helps preserve business and customer relationships, and allows commercial disputes to be resolved by lateral commercial solutions.
