The prospects for the BVI in the realm of international arbitration are burning brighter than ever.
Arbitration – a method of dispute resolution compatible with both commercial and nation-state applications – is compelling because it offers a cost-effective, well-managed and flexible process. It is a bona fide alternative to court-based litigation. As business continues to draw the world closer, arbitration continues to gain prominence. Experts say that the internationalization of the global economy, and the parallel growth of international arbitration over the last 20 years, currently show no sign of slowing down. Additionally, there appear to be few realistic alternatives to international commercial arbitration.
In short, international arbitration centers are primed for success. Thanks to the BVI Arbitration Act, which came into force in October 2014 and is expected to shift alternative dispute resolution here into high gear, the BVI is poised to join the ranks of other such jurisdictions like Singapore and New York.
A One-of-a-Kind Event
These developments make it crucial for those in the financial industry – and even non-practitioners who would like to be in the know – to learn all they can about the subject, what it means for the BVI, and what they themselves will need to do to prepare for the coming boom in this sector.
These and other pressing issues will be addressed at the International Arbitration Conference. This landmark event will be a venue for attendees to learn from and interact with some of the foremost local and international thought leaders in arbitration.
Convened by Business BVI, the Conference will be held on May 21, 2015 at Maria’s by the Sea – in the heart of Road Town.
The International Arbitration Conference will showcase the participation of some of the Territory’s leading movers and shakers.
Foremost among these is Dr. the Hon. D. Orlando Smith, Premier of the Virgin Islands and Minister of Finance. Premier Smith, along with Business BVI Managing Editor Russell Harrigan and Hon. Dame Janice Pereira, Chief Justice of the Eastern Caribbean Supreme Court, will deliver the welcome remarks.
The JS Archibald, QC Memorial Lecture, entitled “A Brave New World – Can the New Arbitration Centre Knock New York, London and Paris Off their Perch?” will be delivered by the Rt. Honourable Lord Peter Goldsmith, QC on the evening of the 20th.
The Conference will be further graced by the presence of Justice Barry Leon, High Court of the Virgin Islands (Commercial Division), Eastern Caribbean Supreme Court, who will deliver the Keynote Address.
A comprehensive range of top global financial authorities, representing celebrated regional and global financial and legal firms, will share their invaluable expertise and opinions during the conference. They will moderate panel discussions and serve as panelists.
Crucial topics to be explored include the potential economic benefits of dispute resolution should it develop into the third pillar of the Territory’s economy; the basis for the popularity of arbitration; the possibility of handling both litigation and arbitration; how the BVI can find its niche and leverage its advantages while overcoming its disadvantages; leading topics in international arbitration; the relationship of courts and arbitration; the International Arbitration Centre and its role; and best global practices in international arbitration.
Opportunities will also be provided for interaction with these experts.
The passage of the BVI Arbitration Act is opening doors to new and unparalleled opportunities for the Territory and BVIslanders.
Keeping abreast of key topics in arbitration and interacting with global experts is the best way to prepare for this momentous development.
Visit the International Arbitration Conference website to learn more about this pivotal event and how to attend it.
Conyers Dill & Pearman is Diamond Sponsor of the International Arbitration Conference.
Sponsors are BVI Finance; Harneys; the BVI Beacon; and the BVI International Arbitration Centre.
Supporting Sponsors are the International Journal of Commercial and Treaty Arbitration; the Toronto Commercial Arbitration Society; Arbitration Place; the Australian Centre for International Commercial Arbitration; the Chartered Institute of Arbitrators; and the Canada International Chamber of Commerce.