This is why arbitration lawyers will be more in demand according to an international law firm in Hungary
According to Csaba Rusznak, an arbitration lawyer working at an international law firm in Hungary, civil disputes will need to be handled differently in the post-Brexit world. Because of the increased unpredictability in litigation both UK and EU companies will need alternative methods to ensure the enforcement of cross-border judgements. Read on to find out how an international arbitration lawyer can provide these companies with a practical legal solution.
An international law firm in Hungary points out how Brexit affected civil disputes
While the European Union and the United Kingdom managed to avoid a hard Brexit in many areas, not every aspect of the legal system has been as lucky. Before the UK left the EU, companies located in Britain could enjoy the benefits of a transparent cross-border dispute resolution framework whenever they had to resolve their civil issues with other companies from the European Union.
The TCA (Trade and Cooperation Agreement) made between the EU and the UK was not enough of a solution to keep this predictable litigation framework available. While it covers several legal matters like judicial cooperation in criminal cases, it falls short when it comes to clarifying the specifics of civil cases.
In practice, even if a company from the UK prevails in a civil case made against another company in the EU, it has no guarantee whatsoever about enforcing the judgment in the EU (and vice-versa).
Arbitration lawyers working at an international law firm in Hungary offer a more attractive legal option
The good news is that despite the uncertainty surrounding civil cases, companies in the UK and the EU can still make use of other methods to resolve their legal disagreements. With traditional cross-border litigation fading into the background of Brexit, arbitration lawyers employed by international law firms in Hungary and other European countries can present companies with a much more attractive legal option.
The benefits of hiring an international law firm for international arbitration include:
- Well-versed arbitration lawyers. Companies will have the opportunity to hire a lawyer who is up-to-date on the dynamics of their particular industry and will be able to look at the case objectively.
- Enforceable judgments. Companies will not have to face the unpredictability that comes with traditional civil litigation between the EU and the UK.
- Confidential procedure. All parties can choose to keep the arbitration process confidential and prevent sensitive information from reaching the ears of the public.
- Fast and flexible procedure. Expedited procedures can greatly reduce the time it takes to resolve legal disputes. International arbitration procedures also allow for more room in scheduling for all parties involved.
Other insights from an arbitration lawyer working at an international law firm in Hungary
As long as all parties agree to it, international arbitration lawyers can handle any civil dispute. Even if the contract between two parties does not specify it, they can be revised to include arbitration as a method for resolving legal disagreements. Planning for this in advance before the dispute happens is beneficial for all parties involved.