A new international body studded with senior legal market names aimed at helping resolve complex financial disputes unveiled its first advisory and management board last week.
The body is known as the Panel of Recognised International Market Experts in Finance (or the Prime Finance Foundation). It has 64 experts and aims to provide judicial training and library resources relevant to complex product and standard form financial contract disputes.
Its advisory board features the former Lord Chief Justice of England and Wales Lord Woolf, the former president of the Dutch Central Bank Nout Wellink and the founder chairman of the International Swaps and Derivatives Association Thierry Porté.
Prime’s management board is chaired by Professor Jeffrey Golden of the London School of Economics and also features Quinn Emanuel Urquhart & Sullivan partner Dan Cunningham along with Baring Asset Management group general counsel Sandie Okoro.
Last month Prime held its inaugural board meeting in The Hague.
“We want to provide a centre of excellence combining lay and legal expertise,” said Golden, adding that the recent growth of financial market regulation made a corresponding increase in the amount of litigation likely.