GEORGETOWN (Stabroek News):
IN A matter of weeks Guyana's commercial court will be launched, providing a fillip to efforts to make the country attractive for investors, especially those from overseas, since it is expected there will be speedy turnaround times for cases.
Through funding from the Inter-American Development Bank (IDB), one judge has so far been trained in commercial adjudication and another will leave soon for similar training. Various kinds of equipment have also been procured.
In an interview with Stabroek News on Friday, Chief Justice Carl Singh said a study had been done to determine the need for such a court and an approach had been made to the IDB for funding. He said the IDB was forthcoming with the funding for the establishment of a com-mercial court and for the training of judges. Justice Singh said the commercial court, likely to be launched in March, would be located within the precincts of the High Court in Georgetown.
RESOLUTION OF LITIGATION
Justice Singh said people in the commercial community - local and overseas - were interested in the timely resolution of litigation. He said the commercial court would have timeliness as its watchword as well as an independent registry, and it would be governed by a case management system.
Among the cases that the court will adjudicate are insurance claims, receiverships, company law, hire purchase, banking claims, bills of exchange, liquidations, trademarks, claims by the Guyana Securities Council, mortgages and foreclosures and claims related to the exploration of oil and gas.
The Chief Justice said one judge had already received related training at the Royal Courts of Justice in England and another judge is to leave for training on March 4.
MAJOR PROBLEMS
Currently, Justice Singh noted, commercial disputes were resolved in two ways: first, through the existing judicatory process, and second, through Alternative Dispute Resolution.
He cited the Mediation Centre, which has been operating in the High Court since 2002 and which handles a range of matters.
According to the draft of a report entitled 'Improving the Environment for Private Investment in Guyana', the main problems from the point of view of competitiveness and dispute resolution seem to be the long duration of judicial processes and the backlog of cases that remain to be adjudicated in the courts.
The draft report, prepared by Nathan Associates Inc., in collaboration with Apoyo Consulting for the IDB, said these problems directly affected the world of business in Guyana, since the failure or limitation of the judicial system affected disputes such as the enforcement of contracts, the recovery of debt, the recovery of goods and company stakeholder disputes.
