Edward Machin at CDR Commercial Dispute Resolution has written a piece, quoting yours truly on the German view point, on PRIME’s ambition “to turn bankers’ heads to arbitration” – an interesting survey on PRIME Finance, or the Panel of Recognised International Market Experts on Finance by its full name, that was set up last year in The Hague.
This new venture is up against some formidable competition though. Machin writes that “the English practitioners interviewed for this article were unanimous in their praise for those sitting in the country’s commercial courts, from first instance upwards. There was, they said, never a sense that judges exhibited a failure of understanding.”
The same English courts that, according to The Times earlier this week, “are facing wholesale privatisation under revolutionary plans that would end the system that has existed since Magna Carta.” Now is the praise they recieve an argument for or against privatisation?