Resolving financial disputes in the context of global civil justice reforms

Abstract

In recent years, many countries have increased their use of alternative mechanisms of dispute resolution to resolve a growing number of financial and commercial disputes. This trend has been supported by civil justice reforms including those within the United Kingdom, Hong Kong, Australia, and Canada. The United States, while a common law jurisdiction, nevertheless has seen the growth of appellate mediation programs based on Rule 33 of the Federal Rules of Appellate Procedure. Such reforms have aimed at encouraging cost effective, expeditious and amicable case handling within the civil justice system. Drawing on comparative crossjurisdictional analysis, this paper reviews the scope and nature of such reforms and examines lessons learned including the implementation of regular evaluation to fine-tune mediation rules in order to maximize their effectiveness.