Innovative Survey Tracks Rise of Latin American Arbitral Institutions
Global law firm White & Case LLP has supported The Institute for Transnational Arbitration (ITA) on a new report called The Inaugural Survey of Latin American Arbitral Institutions. The Survey is a first-of-its-kind publication on international arbitral institutions in Latin America.
"We have released the first comprehensive regional survey of Latin American arbitral institutions," said Survey Editor Jonathan C. Hamilton, a partner at White & Case LLP and leading expert on Latin American arbitration and investment law. "The Survey tracks the evolving legal framework for arbitration and the suitability of Latin American jurisdictions and institutions when drafting arbitration clauses. It is a valuable tool for transactional and disputes lawyers, companies, governments, academics and institutions."
The Survey identified 165 arbitral institutions throughout Latin America with the objective of sharing information about institutions in the region and facilitating best practices in the administration of arbitration. With favorable laws in place, regional arbitral institutions have multiplied in number in Latin America. Some of these institutions already have significant cross-border caseloads and many more are on the rise, reflecting the emergence of an arbitration-friendly culture in Latin America.
The Survey features detailed information on 30 key arbitral institutions in Latin America, including information on their histories, commonalities and best practices. Some of the key findings include:
(1) A significant number of disputes heard by Latin American Arbitral Institutions involve foreign parties.
(2) While most cases involve private parties, an increasing number of cases involve state or municipal entities.
(3) As disputes are becoming increasingly complex, more and more cases are involving multiple parties.
(4) The majority of jurisdictions apply limited requirements for the selection of arbitrators, suggesting increasing autonomy given to parties to designate an arbitrator.
"As the Survey demonstrates, local and regional arbitral institutions, alongside the major international institutions, have contributed to the impressive growth of arbitration in Latin America and will play a critical role in dispute resolution going forward," said Eduardo Zuleta, Chair of the ITA Americas Initiative and Partner at Gómez-Pinzón Zuleta in Bogota, Colombia.
The ITA Americas Initiative encourages the development of arbitration in Latin America through publications and events, including the annual Americas Workshops co-sponsored with local and regional arbitral institutions. These workshops serve as forums for the continuing education of attorneys and professionals interested in arbitration, as well as cooperative opportunities for regional practitioners to meet and discuss new trends and best practices. The Survey was developed in part through presentations and discussions at conferences in Bogota, Colombia and Panama City, Panama, over the past year.
The Survey was edited by Hamilton and co-authored by members of the White & Case Latin America arbitration team, including Michael P. Daly, Courtney E. Hague, Daniel A. Kapner, Alex Khachaturian and Mairée Uran-Bidegain.
About the ITA
Founded in 1986, the ITA is a leading international educational forum in the field of transnational arbitration and a global forum for contemporary issues in the field of transnational arbitration. The ITA provides advanced, continuing education for lawyers, judges and other professionals concerned with transnational arbitration of commercial and investment disputes.
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