New Zealand has the perfect conditions to become a seat for international commercial arbitration, a world-leading lawyer in the field says.
Lucy Reed, who leads the arbitration group Freshfields Bruckhaus Deringer in New York, one of the eminent firms in the industry, says New Zealand practitioners have proved themselves among the best in their field.
On a visit to New Zealand, she told NBR ONLINE she hoped to help aspiring international litigators to see the potential to resolve more transnational business disputes from this country.
Despite the importance of international trade to New Zealand, there has not been a lot of international arbitration involving New Zealand companies, she says.
“Therefore, you can count on one hand the practitioners here who do international arbitration."
Those who do have made their mark internationally: David Williams, QC, described as one of the world’s outstanding commercial arbitrators, has been involved in helping settle more than 100 disputes arising from international commercial agreements.
Sir Ian Barker, Dame Sylvia Cartwright, Sir Kenneth Keith and Sir Geoffrey Palmer also serve as international arbitrators.
Most of New Zealand’s aspiring international litigators go overseas to practice at the big firms in Paris or the UK.
But Ms Reed is encouraging more to return home to New Zealand to practice.
That would see them following in the footsteps of Daniel Kalderimis, now a partner at Chapman Tripp, who worked in Ms Reed’s team as a young solicitor at Freshfields in London; and Simon Consedine, who returned to Bell Gully from Freshfields Paris this year.
Opportunities were growing for New Zealand as the volume of international commercial arbitration cases continued to increase and more work was coming out of Asia.
And Ms Reed says New Zealand has the perfect conditions to become a seat for international arbitration.
“You have a highly developed and excellent court system that gets in your DNA, strong natural justice and good universities and law firms.
“We’re always looking for people who are highly trained in common law and English speaking from New Zealand, Australia and Canada instead of from the US and UK.”
High Court practice or being a retired judge was plenty of experience for a commercial arbitrator, Ms Reed says.
“International arbitration has a very vibrant professional community, so it’s really not hard to keep your name in play [once you return to New Zealand].”
Unrivalled reputation for independence and impartiality
Ms Reed visited Auckland and Wellington last week at the invitation of the Arbitrators’ and Mediators’ Institute of New Zealand.
Executive director Deborah Hart says New Zealand is a developing centre for international arbitration in the Asia/Pacific region.
“That’s not to say next year we will be a Hong Kong, but we’re a developing centre for our region because we have produced arbitrators of international standard and we have many young lawyers working internationally,” Ms Hart says.
“We have an unrivalled reputation for independence and impartiality – which is the key to so many of these large disputes. So New Zealanders can deliver on that.
“And we have a well-respected legal framework and well-regarded Arbitration Act and non-corrupt court system.”
New Zealand's top arbitrators and adjudicators
Among the better-known New Zealanders who have served as international arbitrators or adjudicators are:
Lucy Reed
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