International Financial Tribunal was established in the Hague
| "STATUS QUO", Kharkiv, 2012-01-17, 10:46 |
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International Financial Tribunal began its work in the Hague (Netherlands). This was reported by "Lenta.ru" referring to "The Financial Times". The new judicial organization, dubbed "PRIME Finance", will serve to investigate complex financial disputes between investors, companies and states.
According to the head of a new instance Jeffrey Golden, in most cases national courts are not able to resolve complex financial disputes. According to him, often these courts drag out the process and bring in unpredictable verdicts. He noted that services of the "PRIME Finance" can be used by agreement contractors, central banks and "all those who consider service of the tribunal to be useful."
The Court intends to involve about hundreds of experts on financial markets to help in disputes related to various financial instruments.
"SQ" Reference. The Hague also has such major international legal bodies such as the UN International Court of Justice, International Criminal Court and International Court of Arbitration.
