More speedy and confidential tribunal for businesses: the Ministry of Justice and other stakeholders are looking for an alternative to the courts
Today, within the framework of the Support Program for the Implementation of Judicial Reforms in Armenia, a discussion took place under the title "A vision to Arbitration: an Effective Tool for Business" which was attended by a number of officials, including the RA Minister of Justice Davit Harutyunyan, the Head of the Council of Europe Office in Yerevan Natalia Vutova, the UK Ambassador to Armenia Judith Farnworth, a number of Armenian business entities’ representatives, as well as AM law firm shareholder and arbitrator Vanik Margaryan.
The purpose of the discussion was to find ways to improve the system of judicial protection in Armenia by the help of the arbitration tribunal.
In his speech, Mr. Margaryan emphasized the effectiveness of arbitration tribunals for the Armenian business environment, in particular by mentioning the advantages of arbitration, such as less expensive, confidential, the availability of alternatives for subpoenaing parties and other procedural alternatives, all of which guarantee the speedy process of the dispute resolution. After talking about the main problems recorded in practice during the dispute settlement and mentioning their reasons, Mr. Margaryan expressed hope that the current legislative amendments will make the institution of arbitration more attractive for a wider circle of business entities operating in Armenia.
It is also noteworthy that in the area of alternative dispute resolution AM law firm offers independent arbitration, as well as mediation services.