PETALING JAYA: The upcoming International Dispute Resolution Conference that will include a special session is expected to shed some light on the maritime contractual dispute issue in the wake of the global economic crisis.
The conference, to he held on Friday, is organised by the Malaysian Institute of Arbitrators and co-hosted by Inter-Pacific Bar Association and the Shipping and Admiralty Committee of the Bar Council.
Organising committee member Sitpah Selvaratnam told StarBiz that this topic was aptly chosen as in the wake of the global economic crisis, many maritime contracts folded up.
These include contracts to build ships, for the charter of ships and for the sale and shipment of commodities.
“These contractual disputes need to be resolved at some forum as to many, the practical impact of their choice of forum, or the lack of choice, was significantly felt.
“Would the cost of choosing New York or London as the traditional home ground for maritime litigation or arbitration be crippling?
“Are there other emerging places capable of delivering equal efficiency and quality of determination, but at less cost and more convenience?” she questioned.
Sitpah said the maritime industry needed to make an informed choice and this session would identify the critical elements towards making the right choice.
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