KUALA LUMPUR: The newly- launched International Commercial Admiralty Division (ICAD) court is expected to strengthen investors’ confidence as the go-to place for business and dispute resolution.
Chief Justice Datuk Seri Wan Ahmad Farid Wan Salleh said parties who bring their disputes before ICAD can expect clear timelines, active case management and a firm institutional commitment to resolving disputes within reasonable time.
“I am aware that for businesses and investors, confidence in the courts plays a real and practical role in deciding where to invest and how disputes are resolved,” he said in his speech when launching the ICAD here yesterday.
He noted that “time is money” and that when a multinational company is involved in a commercial dispute, every month that dispute remains unresolved carries a cost.
“It ties up capital. It disrupts business planning.
“It strains commercial relationships. It creates uncertainty on balance sheets.
“For investors and businesses operating across borders, prolonged litigation is not merely an inconvenience; it is a material risk that factors into decisions about where to invest, where to incorporate and where to resolve disputes,” he added.
The new court, located at the Kuala Lumpur Court Complex, specialises in complex commercial and admiralty law across borders.
At present, High Court judge Justice Wan Muhammad Amin Wan Yahya has been appointed to preside over ICAD.
Wan Ahmad Farid also said the specialisation at the High Court level must be matched by specialisation at the appellate appeal.
For this purpose, the Court of Appeal recently established an additional commercial panel in anticipation of a potential surge in appeals arising from ICAD.
Wan Ahmad Farid said there are currently 116 active cases before ICAD, with 54 being admiralty cases.
“I give myself six months to monitor ICAD’s operation.
“We will see if there is a need to establish more ICAD courts,” he added.
