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news
Malta
Arbitration Centre seeks approval for appeals
Although the law as it stands now does not allow appeals from
arbitration awards, steps have been taken to seek parliamentary
approval for appeals to be allowed on points of law, should the
parties so wish. Arbitration cases in Malta have been facilitated
through the setting up of the Malta Arbitration Centre as a centre
for domestic arbitration and international commercial arbitration.
It makes provisions regulating the conduct of arbitration proceedings
and the recognition and enforcement of certain arbital awards.
It is run by a board of governors appointed for six-year terms
by the president on the advice of the minister responsible for
justice.
Benefits of arbitration are various and include the facility
of having cases heard within a relatively short time. The arbitration
awards are legally binding and have the force of a court judgement.
Another plus is that expenses in connection with filing fees are
only 25% of those payable at the superior courts, whilst a party
involved in arbitration may choose to be represented or assisted
by a person of their own choice. This may be a lawyer, an architect,
an accountant, an engineer, among others.
In order to ensure high standards of competence, the centre runs
regular training courses for arbitrators, conducted by highly
qualified foreign and local speakers. A number of arbitrators
have already been registered with the centre. Slowly but steadily
arbitration has started to take root and people are being guided
towards arbitration to solve their disputes.
Further information from the Malta Arbitration Centre, Palazzo
Laparelli, 33, South Street, Valletta. Tel: 21222557, or email:
malta.arbitration@magnet.mt
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