RE: CANNOT BUY3 Jan 2025 13:35
I added another a few more yesterday after reading Marcin's EML research. It's the best work I've seen in the litigation space as it puts everything into context. It's what brokers should do... The below para on the tribunal appointment moving onto the statement of claim is a perfect example of what I mean, and succinctly summarises where we currently sit (p19/20).
"The next step is to appoint the arbitration tribunal. This also depends on the institution and rules in detail, but generally it looks like this: each party nominates one arbitrator, and then the chairman of the tribunal is selected either jointly by the parties to the dispute or by the arbitrators they have chosen. It should be noted here that the arbitrators nominated by the parties are in no way bound by their nomination and are not obliged to rule in favour of the party that nominated them. They are fully independent and objective in this respect, and do not owe anyone anything except a fair decision. It can take several months for the tribunal to be constituted. If the defendant fails to nominate their arbitrator, the person heading the arbitration institution may nominate one. Shortly afterwards, a short preliminary hearing is usually held, at which procedural issues are discussed, and a preliminary schedule for the arbitration is usually established
In the meantime, the plaintiff prepares the most important document, which is the actual claim (Statement of Claim). It describes the entire history of the dispute, and includes all evidence, including witness statements and calculations that support the amount of the claim. This is an extremely extensive document, which is extremely time-consuming and expensive to prepare, which is why it can take up to several months. This is the beginning of the written phase of arbitration, in which the parties exchange procedural documents under the supervision of the tribunal"
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