International Arbitration and the Forensic Accountant; Martin Long, Forensic Accounting Partner at BTG Global Risk Partners in Birmingham - a Division of the Leading Professional Services Consultancy Begbies Traynor Group - Comments on the Need for Proper Preparation before Embarking on International Arbitration

The Birmingham Post (England), January 27, 2011 | Go to article overview

International Arbitration and the Forensic Accountant; Martin Long, Forensic Accounting Partner at BTG Global Risk Partners in Birmingham - a Division of the Leading Professional Services Consultancy Begbies Traynor Group - Comments on the Need for Proper Preparation before Embarking on International Arbitration


Byline: Martin Long

An enduring trend in the legal world has been the increasing popularity of international arbitration as the preferred medium for transnational dispute resolution. The volume of international arbitration cases has increased several-fold during the past 20 years, accompanied by a proliferation in the number of arbitral institutions. There was a time when international arbitration was the province of state-to-state conflict or for disputes between major multinational corporations. But globalisation has brought about an inevitable increase in the number and complexity of cross-border commercial transactions such that relatively modest size companies are now required to address the potential risks associated with litigation in a foreign country. In this same vein, many countries have also now amended local laws and introduced new arbitration legislation in order to encourage overseas business. For the UK, a further consequence of these factors has been that international arbitration is no longer limited to the London legal market but is equally relevant for the regions.

Arbitral institutions are typically country specific or industry relevant. For international commercial arbitration popular general purpose institutions include the International Chamber of Commerce (ICC) based in Paris and the London Court of International Arbitration (LCIA). International commercial contracts commonly include a dispute resolution clause which directs the parties to one of these or the many other arbitral bodies. This means that should the contract go wrong, the parties have a pre-agreed demonstrably neutral forum in which to resolve matters rather than at least one party trusting to the vagaries (whether perceived or real) of a foreign court system. It provides certainty, or at least transparency, as regards the choice of arbitral institution, the location of formal hearings, language, selection and number of arbitrators, prevailing laws and procedures, as well as to some extent jurisdiction.

In business as in life it is often said that "failing to plan is planning to fail". Nowhere is this more relevant than in the face of impending litigation and in my experience especially so where international arbitration is involved. I say this because these legal claims frequently involve complex, cross-border issues and substantial amounts of money in the context of different cultures and business practices. Ultimately an international arbitration is not the same as the UK High Court. Important as it is for a client to instruct a legal team with a track record of acting in international arbitrations, the same applies to the use of forensic accountants and other experts.

The right forensic accountant can often add significant value to the claim process by being involved sufficiently early in a dispute destined for international arbitration. Before arbitration proceedings are even issued it may be fundamental to obtain an informed accounting view on the other party: a key question is, assuming that the client were to be successful before the arbitral tribunal and achieve an award of damages, what financial resources are likely to be accessible in law as regards the other side? …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

International Arbitration and the Forensic Accountant; Martin Long, Forensic Accounting Partner at BTG Global Risk Partners in Birmingham - a Division of the Leading Professional Services Consultancy Begbies Traynor Group - Comments on the Need for Proper Preparation before Embarking on International Arbitration
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.