This morning, GMX participated in a celebratory business breakfast which was held in Casino Maltese, Valletta and organised by the Malta Arbitration Centre, celebrating the entry into force of the Malta Arbitration Act, which took place on this day twenty years ago.
In an introductory speech, Hon. Owen Bonnici, the Minister of Justice, emphasised the vital role of arbitration and other alternative dispute resolution methods within the justice system of our country, while Dr George Hyzler, the Chairman of the Arbitration Centre, encouraged the arbitrators as well as practitioners to continue to work together in order to increase time-effectiveness and efficiency.
The Malta Arbitration Centre was established in the year 2000 and through the years has decided upon hundreds of cases in a myriad of areas of law. The Malta Arbitration Act, which established the Centre, provides for the conduct of arbitration proceedings both in domestic and international arbitration settings, and also for the recognition and enforcement of foreign arbitral awards. The biggest advantage of arbitration remains the level of party control it entails. Parties are able to decide on the structure of the proceedings as well as language, number of arbitrators and when the sittings take place.
Another advantage is that of confidentiality. In fact, the arbitration takes place in private, the testimonies are kept under wraps and the decisions and awards are not published. The idea of publishing the awards is one which is promoted by some experts as such publications could provide for valid informational sources for practitioners.
The expertise of the arbitrators deciding on disputes is also a great advantage to parties. In fact, the decision and/or award may be provided on the basis of knowledge and specialisation. Current panels include those regarding traffic collisions and commercial and corporate. The Malta Arbitration Centre also has concrete plans to introduce a panel of arbitrators specialised in information technology and gaming, since this area of law has significantly expanded in Malta in recent years.
All in all, the 20th Anniversary of the act introducing Arbitration law in Malta was a good opportunity to focus on the progress made as well as on the drawbacks which still exist and should be tackled in the coming years.
Contact Maltese dispute resolution solicitors today
For expert legal advice on dispute resolution in Malta then contact our specialist lawyers in Malta today. Dr Jean Pie Gauci Maistre has been involved in multiple cases in this area of law and will be more than glad to assist or schedule a call.