The Tribune

By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

The adoption of arbitration and alternative dispute resolution (ADR) measures will have a “positive effect” on Bahamian society, a former Bar Association president believes.

Dr Peter Maynard, managing partner of Peter D Maynard Counsel & Attorneys, told Tribune Business he expects enactment of the long-awaited International Commercial Arbitration Bill 2018 to also boost efforts to use ADR for the settlement of domestic and construction disputes

He spoke after Dr Hubert Minnis, addressing the Ministry of Financial Services, Trade & Industry and Immigration’s Alternative Dispute Resolution (ADR) Forum last week, said the Government was focused "on establishing our jurisdiction as a leading centre for international commercial arbitration in the Americas".

Dr Maynard said the issue will also be discussed at the Arbitration Investment Summit for the Caribbean, Latin America and other emerging markets, which will be held on January 28-29 via Zoom.

He added: “This is the ninth year of the summit, and it's been developed to build upon objectives such as those expressed during the seminar” where the Prime Minister gave his remarks.

“I'm hoping that the entire committee, including not just the business community, but the rest of the committee will come and see what arbitration is about and the impact of ADR, and the impact they can have upon our society," Dr Maynard said.

Enactment of the International Commercial Arbitration Bill 2018 has been stalled because there are competing views on how the process should be developed, but Dr Maynard said he is encouraged by chief justice, Sir Brian Moree’s, comments on the establishment of an arbitration centre in The Bahamas.