Brexit: A Call for the Establishment of an Irish International Arbitration Institute—Drawing on Lessons from Singapore
Eoin Moynihan FCIArb is a New York attorney and a commercial disputes lawyer, arbitrator, and mediator. He has extensive experience acting for a wide range of commercial clients in international and domestic arbitrations in various parts of the world and has acted for clients in a diverse range of industry sectors including energy, resource extraction, retail, technology, gaming, construction, finance, shipping, and aviation. Mr. Moynihan is a member of the Litigation, Dispute Resolution and International Sections of the New York State Bar Association, the American Bar Association (ABA) and the Federal Bar Association. He currently serves as Co-Chair of the ABA’s Dispute Resolution Client Representation – Arbitration sub-committee and Membership Co-Chair of the Federal Bar Association's Dispute Resolution Section. He holds a Diploma in International Commercial Arbitration from the Chartered Institute of Arbitrators and is a Fellow of that institute.
Originally from the American Review of International Arbitration (ARIA)
This article will examine the possible obstacles Brexit will create with respect to the future enforcement of United Kingdom and European Union member state judgments, respectively, in each other’s courts. It will suggest that a potential solution to this problem is a broad move towards dispute resolution via arbitration until the uncertainty caused by Brexit is satisfactorily addressed.
It will explore the many merits of seating these arbitrations in Ireland, particularly in view of its continued European Union membership and common law legal system. It will suggest that, in order for Ireland to optimally capitalize on the opportunity Brexit presents to establish its reputation as a seat for international arbitration, Ireland should establish its own international arbitration institute with its own set of arbitration rules.
It will suggest that in developing its international commercial arbitration industry, Ireland should learn from certain aspects of the history of Singapore’s development of this sector of its legal industry over the last three decades. It will conclude with some suggestions as to the geographic profiles of the disputants likely to benefit most from choosing Ireland as a seat of arbitration.
The United Kingdom’s (“UK”) exit from the European Union (“EU”) has created significant challenges for businesses all over the EU that have any nexus at all with the UK in terms of supply chains or customer base. Similar challenges apply to businesses outside the EU that had hitherto used the UK as a base to access the EU’s single market.