More compliance disputes going to arbitration despite cost – Serra Lopes, Cortes Martins

Though arbitration is often more costly than court proceedings, this type of alternative dispute resolution is being used more widely in Portugal, according to Dário Moura Vicente, a counsel and arbitration specialist at Serra Lopes, Cortes Martins in Lisbon.

The increase is partly due to the financial crisis – it is often used to adapt contracts, for example, in cases such as compliance disputes between companies and banks regarding financial investments, Moura Vicente explains. Meanwhile, arbitration is also used in disputes between the Portuguese government and private consortiums regarding large infrastructure projects.
As well as large commercial disputes, arbitration is also used for smaller cases, including consumer disputes, Moura Vicente says. Many cases go to arbitration in Portugal to avoid the long wait going through state tribunals implies, and this is a key factor in the increase.
The Portuguese arbitration law was reformed in 2011 using the United Nations’ Commission for International Trade Rights Model Law on International Commercial Arbitration as a blueprint. The new law widens the criteria for the possible scope of arbitration and makes the regulations more detailed, Moura Vicente said.
While arbitration is used in all areas of law, Moura Vicente cites intellectual property (IP) as one in which there has been a significant increase in cases, especially involving generic pharmaceuticals manufacturers of patented medicines. Portugal has a low penetration rate of generic medicines – which must be sold at half the price of patented ones by law – due to the number of generic brands sued for IP violation before state courts. The government decided such disputes are best solved through arbitration and this has eliminated one major bottleneck in the marketing of generic medicines.

More compliance disputes going to arbitration despite cost – Serra Lopes, Cortes Martins

Garcia-Sicilia

iberianlawyer.com

Iberian Lawyer, is a monthly digital magazine, published by LC Publishing, available in Spanish and English. It represents the main source of information in the legal business sector in Spain and Portugal. The digital magazine – and its portal – address to the protagonists of law firms and in-house lawyers. The magazine is available for free on the website and on Google Play and App Store.

In every issue of the magazine, you will find rankings of lawyers, special report on trends, interviews, information about deals and their advisors.

For further information, please visit the Group’s website www.lcpublishinggroup.com

Iberian Lawyer
Registered office: C/ Manuel Silvela, 8 - Oficinas 1 Dcha 28010 Madrid España

Copyright 2022 © All rights Reserved. Design by Origami Creative Studio

SHARE

Share on linkedin
Share on twitter
Share on facebook
Share on whatsapp
Share on email
Share on telegram