The Arbitration Court of the Chamber of Commerce of Palermo has organized an interesting initiative on administered arbitration for the 27th of this month. The aim of the conference is to present to professionals, citizens and enterprises alike the new set up of the Arbitration Court following the accession of the Bar Association, the Order of Chartered Accountants and the Order of Notary Publics. The new regulations of the Arbitration Court will also be presented during the event.
The aim of the conference is to publicize the possibility of making recourse to an alternative, faster and less expensive justice system guaranteed by a public body and by the professional orders of the sector, considering the difficult relationship between the Italian people and their justice system: a real crisis of civil justice.
Arbitration allows the parties to entrust to a third party or to a board, instead of the justice system, decisions on litigation and, in the case of arbitration managed by the Chamber of Commerce, the procedure is guaranteed by the mutual undertaking of the parties to abide by the rules of the chamber to which they make recourse.
According to a study of the Bocconi University of Milan entitled “Alternative methods to settle disputes: analysis of costs and benefits for companies" defending a right before a judge can take on average 887 days for a first instance judgement, other 808 for the appeal judgement and 912 for the judgement of the Court of Cassation: a total of 2,607 days, more than 7 years.
Moreover, around 40% of the first instance trials are ruled nonsuit because the claimed is deemed legally groundless.
Instead, turning to a Chamber of Commerce can lead to the settlement of the dispute in 135 days if arbitration is chosen (9 times shorter than the average times of the ordinary justice system).
Application has been made to consider the event as training for several professional orders (lawyers, chartered accountants), so that the participants can be awarded training credits for attendance.
VENUE AND TIMES
Secretarial office of the Arbitration Court at the Chamber of Commerce of Palermo
tel 0916050352 - fax 0916050395
email: alessandro.palmigiano@pa.camcom.it