Arbitration, Financial Markets and Banking Disputes – Vol. 14 No. 3

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Author: Stefano E. Cirielli*

Published: April 2004

Categories of Disputes
Banking and Finance Disputes

Description: “Arbitrators and arbitration institutions rise thus from being mere auxiliaries of justice, to become specialized complementaries, and then to become finally the conscience of judicial systems, the guardians of justice, equity, freedom, exchange, development, distribution of wealth, and of understanding, in areas in which the general public may not easily perceive whether courts of justice are doing what is good or not. In the early middle ages errand knights were the mirror of rulers and judges. In the Golden Century of Spain, in “Don Quijote de la Mancha,” the earthly and common Sancho Panza became the mirror, for centuries to come, of how judges, mediators, conciliators or arbitrators should look at their business. Now is the time for arbitrators to perform that function. This is the deepest impact that arbitrators can cause and their most important civic and political duty.”

Roberto G. MacLean**


It is inherent in human nature that disputes arise and, given the complexity of commercial activity, it is inevitable that they happen in this area. Business players will normally try to minimize the potential for conflict by arranging steps to…

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*LL.M., University College, London; Ph.D. candidate in Comparative Law, University of Florence; associate, Allen & Overy, Milan; member of the Italian Bar Association and Solicitor of England & Wales. The author would like to thank Dr. Loukas Mistelis and Prof. Julian D.M. Lew, both of the School of International Arbitration, Queen Mary College, University of London, for their invaluable suggestions and comments. The author also wishes to express all his appreciation to Prof. Guido Alpa, University of Rome “La Sapienza,” to whom he owes a great debt of gratitude, for his enthusiastic and continued encouragement, guidance and advice.