Arbitration in Ireland
Ireland has positioned itself at the forefront of venues for the resolution of international arbitral disputes. As a neutral, common law jurisdiction that is integrated within the EU, Ireland offers incomparable advantages on the world of international dispute resolution.
Why choose Irish Law and Irish lawyers for Arbitration?
Ireland is a neutral modern country with a stable economy. Neutrality is a significant advantage as the perception of a venue is important in the choice of seat. Arbitral institutions nominating a seat or parties trying to agree on a seat look for a venue with which all parties are comfortable.
Arbitration and party autonomy are central to the legal system. The 2010 Arbitration Act operates to promote arbitration. Ireland has arbitration-friendly court procedures and an ethos of minimal court interference in arbitral disputes. The Irish judiciary is highly regarded and has an international record of integrity, commercial awareness, fairness and impartiality. The government supports Ireland as a venue for the resolution of international disputes.
Experienced legal practitioners. Irish lawyers are well regarded internationally. There is a large pool of highly skilled common law and English speaking lawyers in Ireland who act as an important support for the international business that flows through Ireland. Many Irish lawyers have wide experience in arbitration conducted under institutional / arbitral rules (ICC, LCIA, ICDR, UNCITRAL, ICSID, CAS, etc). Considerable expertise has been built up by Irish corporate law firms in areas such as funds, tech, pharma, financial services and aircraft leasing. There is a history of Irish lawyers establishing themselves and gaining experience in other common law countries, including the UK and the US, Australia and Hong Kong. Many international firms have Irish law graduates working in those firms. Legal education in Ireland is of the highest quality.
Enforcement. The Irish system has a strong, long-established and successful domestic regime for the enforcement of arbitral awards and court judgments. As an EU member, Irish judgments can be enforced in all other EU Member States in accordance with the Recast Brussels Regulation.
Lower costs and overheads in Ireland compared to cities like London and Paris make it attractive for legal services to be outsourced to Ireland. The same is true for arbitration.
How will BREXIT impact on international arbitration?
The UK’s decision to leave the EU, and the single market, will cause some parties to international contracts to consider a different choice of law and/or submission to jurisdiction clause. Ireland is the only member of the European Union that operates a court system that is both English speaking and based on the common law. There is considerable uncertainty as to whether the judgments of English Courts will be easily enforceable in the EU.
The promotion of Dublin as a seat/venue for international arbitration is led by Arbitration Ireland, established to coincide with the coming into force of the Arbitration Act 2010. It has a broad based membership including barristers, solicitors and institutional members (the Bar Council, Law Society, Chambers Ireland, Engineers Ireland and the Chartered Institute of Arbitrators – Irish Branch).
For more information see arbitrationireland.com