3 Day Free Online Bootcamp On Arbitration
Give us 3 hours over 3 days, and we will share insights that you had no idea about from your practice, law school courses or moots.
I was working in a corporate law firm in 2011 in the restructuring team. It was one of my first few transactions.
The effect of the global financial crisis had hit India. A big real estate company had obtained a thousand crores of investment from a foreign investor.
This investment was raised prior to the financial crisis, somewhere around 2005.
At the time when I started working, the investment was due for returns. The investor’s timeframe for investment had expired.
Also, there was a cash crunch by then, so the investor wanted to exit. The agreements had elaborate clauses promising a minimum return to the investor.
The Indian real estate sector wasn’t doing well either. Therefore, the Indian business did not have the kind of money that was promised under the agreement.
What happened next? The Indian party refused to pay, and there was a dispute.
It started with a battle of notices - one party raising its claim for the money, the other refusing it.
Ultimately, it would depend on the strength of the arbitration clause. Unfortunately, that clause was not strongly worded.
Probably, the investor’s lawyers had not thought deeply about dispute scenarios at the time of the investment transaction. Who knows, the investor may also have wanted to proceed quickly in the excitement of an economic boom and not iron out all these details in black and white.
The Indian party would definitely want to dodge the arbitration.
One of the parties also started writing complaints to the RBI. The foreign investor also feared a police complaint. These were the preparatory steps taken to frustrate any arbitration proceedings that may be commenced in future.
A senior counsel’s advice was obtained on the matter - it was very clear that parties may consider negotiation, while preparing their case before the regulators and authorities.
The party with the stronger armoury before the regulatory forums might get a better negotiated outcome.
After 18 months, I read in the newspapers that the matter was settled by negotiation by the parties. The foreign investor could exit, but with a relatively small return on the investment. It was nothing compared to what was promised in the documents. By this time I had quit the firm.
Arbitration is a key component of any commercial dispute. As you read above, an effective arbitration lawyer will need to know how to use arbitration in conjunction with a variety of other legal remedies.
While young lawyers are often starry-eyed and excited about building a career in arbitration, they do not have a precise idea about how to fulfil this ambition.
Young litigators who are working in civil courts have a huge opportunity to increase their income and expand their clientele by working on arbitration matters, once they learn the skills. As all arbitration disputes pertain to commercial issues, arbitration can be a very financially rewarding area.
It will be foolish for any commercial lawyer or commercial litigator to ignore the promise of an arbitration practice.
Do you want to learn more about how to build a career in arbitration? Do you want to know more about what kind of job and client opportunities await arbitration lawyers?
Register if you are interested.Register Now
What you will learn:
- What is the difference between commercial litigation and arbitration?
- Why is the demand for arbitration lawyers increasing? What are the recent trends?
- What is the work performed by an arbitration lawyer?
- What skills should an arbitration lawyer possess to succeed?
- What do clients expect from their lawyers in a commercial or contractual dispute?
- Is arbitration important for young lawyers who want to build a career in litigation or work on commercial matters?
- Why is learning how to perform arbitration work relevant for litigators?
- Should corporate lawyers learn about arbitration? Why?
- How can learning about arbitration work help me in building my independent practice?
- I have read the Arbitration and Conciliation Act, 1996 and the important Supreme Court cases. Am I ready to apply for internships or job opportunities now?
- I have participated in arbitration moots. Am I ready to start my career?
- What can I do to secure internships in arbitration?
- What kind of advisory and drafting skills are necessary for an arbitration lawyer?
- Which firms could hire me if I learn arbitration work?
- How much do arbitrators and arbitration lawyers earn?
- Can I become an arbitrator? What are the opportunities?
- I want to build a career in arbitration - should I work with a senior or in a law firm? What will be better in the long term?
- What is the practical work performed by lawyers in international commercial arbitration?
- How can I work on international commercial arbitration matters in Singapore, Dubai, US, London and other regions? What is different about international commercial arbitration?
- I am interested in mediation as well - do arbitration lawyers get to work on mediation?
- I am interested in investment arbitration - how can I learn that? Will it help me?
- What is the Cairn and Vodafone investment arbitration with India about? How can I work on matters like that?
- Can I represent India in global investment arbitrations?
- Will foreign law firms hire me if I learn international arbitration?
- How can I work with reputed international institutions such as Singapore International Arbitration Centre (SIAC), London Court of International Arbitration (LCIA), International Chamber of Commerce (ICC)
- How can I get started with building a career in arbitration? Which skills do I need to develop?
- Which other areas of commercial dispute resolution must a successful arbitration lawyer know about to be effective?
Who is this for
- Young lawyers and litigators who want to take on arbitration matters for private clients or seniors
- Corporate lawyers who want to perform disputes work in law firms
- In-house counsels who want to take up more active roles in the disputes practice
- Law students who want a job in the litigation/ disputes practice of a law firm