ICC conference spotlights Cyprus promise as arbitration seat
A notable ICC conference recognizing the potential of Cyprus as an attractive hub for international arbitration gave participants a glimpse into the arbitral process and its current and future trends.
Organized by the ICC International Court of Arbitration and ICC Cyprus, the event featured addresses by the President of the Republic of Cyprus Demetris Christofias, President of the Supreme Court of Cyprus Petros Artemis, Chairman of the ICC International Court of Arbitration John Beechey and Chairman of ICC Cyprus Vassilis Rologis.
The conference credited Cyprus as a “model law” jurisdiction with a reliable judiciary and a sophisticated local bar. At the cross-roads of three continents, the island offers the geographic and cultural neutrality that appeal to many parties when selecting a place of arbitration.
“The success of the conference together with the commitment of the local ICC national committee to offer the right set up for arbitration, will no doubt help position Cyprus on the international arbitration map as a venue of choice in the years to come,” said conference speaker Nayla Comair-Obeid of the Lebanese law firm Obeid.
The conference was followed by a practical workshop designed to equip government agencies, attorneys, arbitrators, investors and other professionals interested in the process of ICC Arbitration with the necessary know-how to handle an ICC Arbitration. Topics included the appointment of arbitrators, jurisdiction and the new ICC Rules of Arbitration due to be released later this year.
“I very much enjoyed participating in the ICC workshop in Nicosia,” said John Fellas, New York-based Partner at law firm Hughes Hubbard & Reed. “The number of people who attended and the high quality of their questions and comments during the workshop, prove that lawyers in Cyprus are interested in international arbitration.”
Both events took place in Nicosia on 28-29 March and were sponsored by the Bank of Cyprus, law firm Chrysses Demetriades and Deloitte. They brought together a total of 160 participants comprising attorneys, state officials, members of the judiciary and other legal practitioners.
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