By BY OUMA WANZALA AND BEVERLY NDEGE
In Summary
- The Nairobi Centre for International Arbitration yesterday moved a step closer to being fully operational with inauguration of its board by the attorney general, boosting hopes for speedier resolution of commercial disputes among local and foreign investors
- The Arthur Igeria-chaired board was sworn into office by Attorney General Githu Muigai, paving the way for appointment of the tribunal’s secretariat
The Nairobi Centre for International Arbitration
yesterday moved a step closer to being fully operational with
inauguration of its board by the attorney general, boosting hopes for
speedier resolution of commercial disputes among local and foreign
investors.
The Arthur Igeria-chaired board was sworn into
office by Attorney General Githu Muigai, paving the way for appointment
of the tribunal’s secretariat.
Having a legally entrenched tribunal is seen as a
key cog in making Nairobi an attractive destination for foreign
investors, who shun the city for fear of slow judicial process.
“We want Nairobi to become a business hub and that
can only be done if investors are assured that disputes that may arise
in the course of their business will be resolved amicably and with
speed,” said Mr Igeria (right).
Cities such as London and Kuala Lumpur, Malasyia,
have a strong tradition of handling commercial disputes through
arbitration, mediation and conciliation, which makes them attractive
investment destinations.
Mr Igeria said that the Nairobi Tribunal would target quick and fair resolution of disputes.
Though Kenya’s legal system already recognises
arbitration as a means of resolving disputes, there is still no
permanent tribunal to hear cases and arbitration panels are appointed on
a case-by-case basis.
The chairman noted that in the past, some
investors have had to go abroad to seek arbitration services which
turned out to be expensive for them.
Mr Igeria said that the centre has a lot of work
at hand that it is supposed to undertake and called on Kenyans to
support the initiative.
He noted that the centre would help to reduce
backlog of cases at the courts and it was possible for it to transform
Nairobi into an international financial and commercial capital.
The centre which has representation from East
Africa will also have other members from AG‘s office, principal
secretary in the department of justice, chief registrar of the High
Court, Law Society of Kenya, Kenya National Chamber of Commerce and
Industry and Kenya Private Sector Alliance.
Members of the centre are John Ohaga, Esther
Opiyo, Jimmy Muyanja, Dr Emanuel Ugirashebuja, Peter Njuguna, Allen
Gichuhi, Carol Kariuki and Collins Namachanja.
The centre is tasked with promoting and
facilitating the conduct of international commercial arbitration and
will administer domestic and international arbitration as well as
alternative dispute resolution.
The team is expected to develop rules that will
guide conciliation and mediation process as well as ensure that
arbitration is reserved as the dispute resolution process of choice.
The centre will also provide advice and assistance
for the enforcement and translation of arbitral awards as well as
procedural and technical advice to disputants.
No comments :
Post a Comment