Posts Tagged ‘commercial court’
From June 2017, ‘The Business and Property Courts’ will be the new name for England and Wales’ international dispute resolution jurisdictions and will act as a single umbrella for business specialist courts across England and Wales.
This is rather more than a simple re-branding. The main objective of the new arrangements is that it will enable appropriately qualified judges to be deployed more flexibly so that their expertise can be used in whatever forum it is needed.
Business and Property Courts brings under a single umbrella the following existing courts and lists:
- The Commercial Court (covering all its existing subject areas of shipping, sale of goods, insurance and reinsurance etc.)
- The Admiralty Court.
- The Mercantile Court.
- The Technology and Construction Court (covering all its traditional areas of major technology and construction cases).
- The Financial List (covering banking and financial markets).
- The Companies and Insolvency Court.
- The Patents Court.
- The Intellectual Property and Enterprise Court (the “IPEC”).
- The Competition List.
Other courts and lists will be added in future to include the existing business and property cases in the Chancery Division.
There will also be Business and Property Courts in Birmingham, Manchester, Leeds, Bristol and in Cardiff, with expansions to Newcastle and Liverpool likely in the future.
Although the framework will be new, existing practices and procedures will be retained, at least for the time being.
On 1 August 2015, I noted the decision to create a new financial list and set out a diagram explaining how this would operate in the High Court.
In October 2015, further guidance on the financial list was published, and a formal event to launch the new list was held on 21 October 2015.
It will be overseen by the Chancellor of the Chancery Division and the Judge in charge of the Commercial Court of the Queens Bench Division. Cases will be heard in the Rolls Building in London.
This is an important strategic move by the judiciary, in collaboration with those groups of the legal profession who deal with these major financial cases, to try to ensure that London remains the litigation forum of choice for these kinds of cases.
One of the interesting points that was made at the time of the launch was the extent to which judicial decisions emanating from these arrangements will (or will not) align with rulings from Financial Regulators.
To read the guide, go to https://www.gov.uk/government/publications/financial-list-guide
To read some remarks of the Lord Chief Justice on the launch of the list go to https://www.judiciary.gov.uk/announcements/financial-list-press-release/