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The US and Hong Kong have struck up a unique alliance between two of the largest providers of arbitration and alternative dispute resolutions (ADR).
The Hong Kong International Arbitration Centre (HKIAC) and US-based JAMS today launched (21 March) the coalition to promote more effective and speedy resolution through ADR between the US and Asia.
Michael Moser, chairman of the HKIAC and a partner at law firm O'Melveny & Myers, said the current business environment provides an opportune time for the alliance.
“Asian economies are experiencing unprecedented growth and Hong Kong is the region’s leading dispute resolution centre, so an alliance like this, will mean more effective outcomes for North American companies doing business in China and other parts of Asia and vice versa,” said Moser.
Steve Price, the chief executive of JAMS, said that the growth of arbitration and mediation is a key “business tool” in the US and is an area which needs to increase its poole of talent.
“This alliance will provide clients with the most qualified mediators and arbitrators in a variety of subject-matters in each of our markets,” said Price.
The news comes at a time when UK law firms and barristers’ sets have been pushing arbitration and ADR as good alternatives to litigation in the post-Woolf landscape.
As The Lawyer revealed (19 March) Exchange chambers have become the most recent group in the legal profession to push the benefits of ADR as it gears up to become the first set to have a dedicated mediation practice.