AAA Goes to Bahrain (Web)
August 18, 2009
An interesting international ADR development this week:
The nation’s largest alternative dispute resolution provider, the New York-based American Arbitration Association, announced Monday that it is expanding into Bahrain.
The nonprofit association’s press release notes that in an effort to establish itself as an attractive arbitration and mediation venue for international companies, Bahrain's Ministry of Justice signed an operating agreement establishing the Bahrain Chamber for Dispute Resolution on Aug. 17.
A formal agreement, according to the press release, was signed by Bahrain’s Minster of Justice HE Sheikh Khalid bin Ali bin Abdulla Al Khalifa, and AAA President and Chief Executive Officer William K. Slate II, and is expected to take effect later this year.
The agreement “will see AAA best practice adopted by the new BCDR-AAA,,” according to the association’s press release, which can be found here.
The Bahrain Chamber of Dispute Resolution's role in the nation’s domestic legal system was established by recently enacted domestic legislation. In the press release, Justice Minister Sheikh Khalid said that the is needed to “provide industry with an added dimension of surety to commercial transactions and as a vital cornerstone for economic growth.”
The AAA’s William Slate said in the release, “I have no doubt that the BCDR-AAA will soon establish itself as the pre-eminent alternative dispute resolution facility within the Gulf and surrounding region.”
Here’s coverage of the agreement signing:
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