September 01, 2010
International Arbitration: New York's Debevoise steps up.
And does the sane thing. Clients have had good reason over the years to disbelieve promises by law firms to restore arbitration to its original goals of faster-cheaper-better. Almost none of them were kept. Litigation is a money-maker, and larger firms, boutiques and other Western law shops with higher-end corporate clients have too much riding on the fees. But some observers think that New York City-based Debevoise & Plimpton, with 650 lawyers in US, Europe and Asia, still may have done the right, sane and smart thing by developing and announcing its "Debevoise Protocol to Promote Efficiency in International Arbitration" (April 2010). Do see, by GE's Mike McIlwrath, an in-house oil and gas litigation lawyer based in Florence, Italy, this article: "Faster, Cheaper: Global Initiatives to Promote Efficiency in International Arbitration", reprinted from 76 Arbitration 568–570 (2010). Debevosie will be a hero to clients worldwide, and keep its own clients forever, if it delivers and keeps up the leadership. The April 2010 Debevoise Protocol is reproduced in McIlwrath's piece and can also be found on Debevoise's website.
Posted by JD Hull at September 1, 2010 10:31 AM