Bernardo Cremades, a founding partner of B. Cremades & Asociados, practices commercial law and serves as an arbitrator in domestic and international commercial and investment disputes. He is also a professor at the Universidad Complutense de Madrid.
Spain’s new arbitration law became effective on June 10, 2011, having been approved by Spain’s Parliament on May 12, 2011, and ratified by King Juan Carlos I prior to publication on May 21 in Spain’s Boletin Oficial del Estad. This is the third modification of Spain’s arbitration regime. The first two modifications, in 1988 and again in 2003, substantially changed the arbitration statute, introducing into the Spanish legal system many of the general principles embodied in the 1985 UNCITRAL [United Nations Commission on International Trade Law] Model International Commer cial Arbitration. Since then, this Model Law has undergone a revision and arbitration in Spain has developed considerably, revealing the need for reforms in certain areas. The problems that most needed addressing were: