Articles

Financier Worldwide - Commercial Arbitration - Annual Review 2015

LITIGATION & DISPUTE RESOLUTION | April 2015

We have come to embrace an era where international commercial arbitration is globally accepted by both the wider business community and states as a primary dispute resolution mechanism. The evolution of arbitration is one that seems to have organically grown to meet the needs of businesses and the globalisation of economies. In recent years we have seen the steady promotion of international trade and foreign direct investment covering a broad range of industry sectors.

ROMANIA

Florian Nitu
Popovici Nitu & Asociatii

“Arbitration, and particularly international commercial arbitration, remains the key alternative to the state judiciary, at least in disputes involving concurrent applicable laws and jurisdictions. There are certain sectors prone to arbitration, such as concessions, the construction industry, public-private arrangements and corporate joint-venture type of investment schemes. Predominantly, these sectors continue to favour arbitration over litigation or mediation. This is primarily due to the complexity of these types of matter and the intricacies of cross-border commercial disputes, where experienced international arbitrators are better placed and equipped to deal with all relevant issues.”