New Jersey Angles To Become Global Dispute Resolution Hub
Law360, New York (October 21, 2016, 12:50 PM EDT) -- New Jersey is set to enact legislation that would allow businesses to enforce settlements reached in mediation worldwide just as they would an arbitral award, a move that experts say is a nod to the increasing popularity of mediation as an alternative to costly and time-consuming international arbitration.
The New Jersey International Arbitration, Mediation and Conciliation Act, which was passed by the New Jersey Senate 33-0 last month and made its way without incident through a state Assembly panel earlier this month, would create a framework for certain nonprofit groups to establish centers that would facilitate the resolution of international business...
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