Dispute Resolution: No such thing as a cheap alternative
Arbitration was expected to offer a swift and cost-effective solution to commercial disputes, but recent cases have shown the process is failing to deliver. Christer Soderlund asks why this is, and whether there can be a viable alternative
In March 2001 a request for arbitration by a US trading company was filed with the Arbitration Institute in Sweden against a major primary goods processing entity in the Russian Federation. The request concerned a considerable amount – a couple of hundred million dollars – and the advance payment was set at $400,000, preliminarily expected to cover the arbitral institutions and the arbitrators’ fees.
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