Alternative dispute resolution is a standalone legal practice that provides businesses with more and more opportunities for settlement outside the traditional judiciary.
It is no secret that over the decades the Ukrainian judicial system has gained a confusing reputation. The strong argument put forward that Ukrainian judges are subject to improper influence is at the heart of discussions around our country at almost every international forum. As a result, both serious foreign and local businessmen tend to avoid it, seeking resolution in arbitration or other jurisdictions.
Despite the irresistible advantages of international arbitration, amicable settlement and mediation suggest a reasonable alternative to minimize weaknesses of arbitration like lengthy procedure, high costs and enforcement difficulties.
Over the last couple of years we have observed substantial development of pre-arbitration amicable settlements in disputes between investors and the Ukrainian state. Another topic for discussion is the necessity to regulate the mediation procedure and follow international standards designed on the global stage.
Welcome to the autumn business season. We are traditionally thankful to our enthusiastic contributors for providing us valuable practical insights into the topic.
Happy reading, Olga Usenko