Niamh Leinwather said that Brazilian institutions have “a reliable reputation around the world” in relation to the mechanism
A general secretary of Viac (Vienna International Arbitration Center, its acronym in English), Niamh Leinwather, stated this Tuesday (24.Oct.2023) that Brazil has an image “very positive” in the international arbitration scenario.
According to experts, the country is one of the most reputable parties in ICC (International Chamber of Commerce) arbitration. “I believe that there are Brazilian institutions that have a really reliable reputation around the world. They are certainly known in Vienna.”said in an interview with Power360.
For Leinwather, the existence of a legal arbitration mechanism is “essential for international trade” for providing security in cases of disputes to companies that invest in a particular country or have a contractual relationship. The secretary general considers that it is “I need to be careful not to over-regulate the system”.
“In Austria, we have the Civil Procedure Code, institutional rules and a series of international guidelines that give the parties guidance and recommendations for conducting their arbitration. I believe this is usually enough.”he said.
The legal mechanism for resolving conflicts also involves the issue of the duty of disclosure.
Asked about the subject, the general secretary of Viac stated that international guidelines on conflict of interest in arbitration, such as those of the IBA (International Bar Association), are “really useful at an international level” to analyze the existence of a conflict of interest.
Leinwather participated this Tuesday (Oct 24) in the International Arbitration Forum. Read more about the event below.
FORUM
The International Arbitration Forum is an initiative of the IBDL (Brazilian Institute of Legislative Law). It has the support of the office Murillo de Aragão Lawyers and Consultants and the platform Names. O Power360 is the media partner.
Watch the event broadcast:
All panels will be available on channel of Power360 on Youtube. Over 2 days, the panels will address:
- various aspects and impacts of arbitration;
- history of arbitration in Brazil;
- duties of referees;
- the relationship with the Judiciary and action in matters of tax law and compliance;
- bills that exist in the area;
- constitutional limits for the ratification of foreign arbitration decisions.
Find out more about the forum and read the schedule by clicking here.
ARBITRATION
Arbitration is a legal mechanism that seeks to resolve conflicts outside the Judiciary. The sentence given by the arbitrator, who acts as a type of private judge, must be followed by the parties, just as if the decision came from the Court.
Arbitrators are chosen by the parties. They don’t need to be lawyers. They may be experts in the areas surrounding the dispute. Thus, there is the possibility of appointing engineers, teachers, economists, among other types of professionals, for example.
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