Financial Dispute Resolution and PRIME – A Survey

The financial crisis and related events are widely believed to have led to an increase of disputes in the finance industry. Against this background, in January 2012 the Panel of Recognised International Market Experts in Finance (“PRIME”) opened inThe Hague to provide a bespoke forum to assist in the resolution of financial markets disputes. Claiming to have assembled a panel of industry specialists with collectively over 2,000 years of experience, PRIME offers judicial training, advisory opinions, experts for disputes, a mediation service and an arbitration facility based on a customised version of the UNCITRAL rules. 

So far, my impression is that PRIME has not received a lot of attention inGermany, and is perceived as a US/UK-centric venture. A look at the listings of experts appears to confirm this: Three experts from France and four German experts are listed, compared to more than 20 from both the United States and England. One the one hand, this may simply reflect the prominent roles of New York and English law in international financial markets. On the other hand, it may be a reflection of continental versus the Anglo-Saxon approaches to dispute resolution.

You are invited to shed some light on this and participate in my firm’s survey on PRIME. All answers will remain anonymous and no personal data will be shared with third parties. Participants who enter their name and email address will receive a copy of our findings by email.

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