FED:Australia 'to solve world's disputes'

AAP General News (Australia)
08-03-2010
FED:Australia 'to solve world's disputes'

SYDNEY, Aug 3 AAP - Australia is well placed to become a major player in the booming
global market for dispute resolution, says Attorney-General Robert McClelland.

Opening a new international disputes entre in Sydney's CBD on Tuesday, Mr McClelland
said the world-class facility was already attracting strong interest from corporations
in the Asia Pacific region.

"Australia has been seen as a place that people leave when they want to conduct arbitration
rather than being seen as the place to go to," he said at the centre's launch.

"For too long, those seeking to make use of the benefits of arbitration have headed
to London or New York - or to our regional neighbours in Singapore or Hong Kong ...

"Australia will (now) be the place to come to when businesses want their problems fixed
fast and fairly."

Also at the official opening of the $600,000 Australian International Disputes Centre
was NSW Attorney-General John Hatzistergos, who said the centre would bring tens of millions
of dollars into the country each year.

"We enjoy very close ties to Asia and Europe, we have stable economic, political and
legal systems and we boast some of the best legal practitioners in the world," he said
in a statement.

Commercial dispute resolution is becoming the preferred option for solving business
and commercial squabbles because it's quicker, cheaper and less formal than going through
the courts.

President of the Australian Centre for International Commercial Arbitration (ACICA)
and partner of Clayton Utz, Professor Doug Jones, said investors were keen to avoid the
uncertainty of litigation in foreign courts.

"International arbitration has emerged as the process of choice for businesses in the
global economy," he said.

The centre was jointly funded by the commonwealth and NSW governments, the ACICA and
the Australian Commercial Disputes Centre.

It features 10 custom built rooms, including a large 27-person hearing room, and is
equipped with state-of-the-art video conferencing technology and access to translation
and transcription services.

AAP stu/tr/jel

KEYWORD: DISPUTE

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