Law reformers circulate draft arbitration bill
(CNS): Following the development of a draft bill, the Law Reform Commission is asking the public to offer final comment on a proposed new Arbitration Bill. The Commission circulated the discussion paper ‘Review of the Arbitration Laws in the Cayman Islands’, which formed the basis of the new law over one year ago on 11 May 2009. The Bill seeks to modernise the conduct of domestic and international arbitration in the Cayman Islands by streamlining the current legislative regime and introducing provisions which, the commission said, are consistent with existing legislative models in other jurisdictions.
Comments are invited from the public on any aspect of the draft Arbitration Bill, 2010. The Bill may be viewed on the following website: www.gov.ky.
Submissions should be posted no later than 23 July, 2010 to the Director, Law Reform Commission, c/o Government Administration Building or delivered by hand to the offices of the Commission on 3rd Floor Anderson Square or emailed to cheryl.neblett@gov.ky.
Category: Local News
We needed an updated Law for arbitration, but Cayman will never become an arbitration centre as there is just not the expertise necessary and it is too isolated and has too many indirect expenses. If anything this Law might cost a good few jobs in the Cayman Islands as it means that disputes involving Cayman business will be resolved with no involvement of Cayman attorneys. Litigators involved in international work (and their secretaries and support staff) should be a little concerned.
Do not agree. Arbitration is already taking place in Cayman, and a lot of litigators are also certified arbiters. The expertise is here, so is the infrastructure; as an indirect, there will be less strain in our backlogged court system.
good news! if properly drafted, Cayman could market itself as an international arbitration center – it has the infrastructure and expertise already to resolve hedge funds and other business disputes.
To the joker writing that this is an "udp scheme" to penalise locals: utter rubbish. Please do a little research to relieve your ignorance and stop relying on other people to explain or reassure your silly notions (just plain lazy). Thetime you took to write that long comment, you could have done a quick search to learn what arbitration actually is (also a good idea to know before making remarks).
Arbitration is a alternate form of dispute resolution which is more attractive than litigation (i.e. going to court) as it is faster and more cost-efficient.
Get a clue, please.
I believe if this law is properly drafted it could cause a lot of Arbitration related business to come to Cayman, and that would certainly be good for economy.
I wish the relevant persons will make it the most desired Arbitration Law in the world.
OPEN LETTER TO MR. ALDEN MCLAUGHLIN, MR. KURT TIBBITTS AND MR. CHARLES CLIFFORD
I have visited the government website regarding the arbitration law.
Mr. Kurt Tibbitts and Mr. Alden McLaughlin and Mr. Charles Clifford need to come foreward and explain to the people EXACTLY WHAT THIS MEANS FOR THE PEOPLE OF THE CAYMAN ISLADS.
In my opinion this is a UDP scheme to get even with those that oppose them and also penalize them one way or another.
As leaders of the opposition, Mr. Alden and Mr. Kurt please explain to us exactly what this Draft Arbitration law intends to do to the people and for the people if anything or is it going to serve Government only or te UDP.
WE NEED TO KNOW NOW, not later.