After nearly a decade of preparation, France published its greatly anticipated new arbitration law on 14 January, the first major reform since the 1980s, thereby enhancing France as one of the most arbitration friendly jurisdictions in the world. In last Friday's Les Échos (a French daily financial newspaper), Michel Mercier, the French Minister of Justice, is quoted as saying: "Paris is the premier place in the world for arbitration and I wish it to remain so: since our law is so well recognized, it is the responsibility of the public authorities to ensure that it continues to thrive."
The reform concerns both domestic and international arbitration and will be codified in Articles 1442 to 1527 of the French Code of Civil Procedure. The new law will become effective and applicable on 1 May 2011, save in several specific provisions.
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