When negotiating transaction documents, dispute resolution provisions will often receive less attention than they should. Even when these provisions are negotiated, parties’ concerns.
Friday, April 9, 2021
English Court Clarifies Grounds for Challenge to Expert Determinations
When negotiating transaction documents, dispute resolution provisions will often receive less attention than they should. Even when these provisions are negotiated, parties’ concerns are often limited to how any future disputes should be finally resolved (for example, by court proceedings or arbitration), what the governing law should be, and what, if any, steps should be taken before any dispute resolution process is commenced (for example, if negotiation or mediation should be compulsory before legal proceedings are commenced). Expert determination is one form of dispute resolution that often goes overlooked in this context, despite its (a) potential as a quick and cost-effective dispute resolution mechanism and (b) suitability where the subject matter is specialised or technical in nature or a valuation is required. Another key advantage is that an expert’s decision is