Family Dispute Arbitration Scheme Launches in February
Family
News | 9 January 2012
Divorcing couples who are unable to resolve financial matters by agreement will soon be able to use a new arbitration scheme as an alternative to litigation. Arbitration has long been a popular method for resolving commercial disputes and, for certain couples, arbitration will have many advantages over the alternatives. It is likely to prove popular, particularly with high net worth individuals looking for a time efficient and private means of resolving a family dispute.
What is arbitration?
The parties appoint a suitably qualified arbitrator to adjudicate on their dispute. The parties make submissions and submit evidence to the arbitrator who then makes an award.
What kind of cases are suitable for arbitration?
Essentially disputes concerning money or property. It is not suitable for resolving disputes about arrangements for children.
What are the advantages over traditional litigation?
- the process can be made entirely private; no confidential documents need be lodged at court and, unlike court hearings, the press have no right to attend;
- the process will be quicker and cheaper that the court system but the parties can still be represented by lawyers;
- hearings can take place wherever and whenever it is convenient for the parties: they can even agree that there will be no hearings with all evidence being given in writing;
- the additional strain placed on already difficult family relationships by the delays, costs and uncertainties of traditional litigation may be avoided by a streamlined process which gives the parties more freedom and control.
For further information please contact a member of the Family team.
