{"id":29,"date":"2013-01-17T19:58:02","date_gmt":"2013-01-18T00:58:02","guid":{"rendered":"https:\/\/nyiac.org\/?page_id=29"},"modified":"2013-04-15T18:25:26","modified_gmt":"2013-04-15T22:25:26","slug":"courts","status":"publish","type":"page","link":"https:\/\/nyiac.org\/new-york\/courts\/","title":{"rendered":"New York’s Neutral and Sophisticated Courts"},"content":{"rendered":"
Since New York is a major commercial and financial center and because so many parties, whether based in New York themselves or not, choose New York law to govern commercial transactions, New York law has become extraordinarily well-developed in the commercial arena. New York courts routinely decide disputes arising out of complex international commercial transactions and often review and apply foreign law. One of the policies underlying the promulgation and interpretation of New York commercial laws is predictability in business transactions. Courts in other jurisdictions in the United States look to New York precedent for assistance in deciding cases involving commercial transactions. As New York is a common law jurisdiction, courts make binding decisions in areas in which there is no governing statute, enabling the law to develop quickly in response to changing commercial imperatives. The decisions of the higher courts are binding on lower courts, enhancing the predictability of the legal system.<\/p>\n
New York is widely regarded as a neutral forum with independent, experienced, and neutral courts and arbitrators.<\/p>\n
New York courts are neutral; whether the dispute involves U.S. and non-U.S. parties, or is entirely between non-U.S. parties, the New York courts do not favor a U.S. party over a non-U.S. party or one non-U.S. party over another when resolving actions to set aside an arbitral award or other issues arising out of arbitrations venued in New York:<\/p>\n
Similarly, in an arbitration sited in New York, the party-appointed arbitrators in a three-member tribunal will be neutral. The Code of Ethics for Arbitrators in Commercial Disputes promulgated jointly by the American Bar Association and the American Arbitration Association requires that all arbitrators, including party appointed arbitrators, must be neutral, unless all the parties agree otherwise in writing.<\/p>\n
Although most international arbitrations do not require court intervention prior to the enforcement stage, New York courts support international arbitration at every stage from the enforcement of the arbitration agreement to the recognition of the arbitral award.<\/p>\n
Examples of New York courts issuing anit-suit injunctions include:<\/p>\n
New York courts are independent, experienced, and neutral, and they routinely decide disputes arising out of complex international commercial transactions.<\/p>\n","protected":false},"author":61,"featured_media":0,"parent":24,"menu_order":3,"comment_status":"open","ping_status":"closed","template":"","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/nyiac.org\/wp-json\/wp\/v2\/pages\/29"}],"collection":[{"href":"https:\/\/nyiac.org\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/nyiac.org\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/nyiac.org\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/nyiac.org\/wp-json\/wp\/v2\/comments?post=29"}],"version-history":[{"count":0,"href":"https:\/\/nyiac.org\/wp-json\/wp\/v2\/pages\/29\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/nyiac.org\/wp-json\/wp\/v2\/pages\/24"}],"wp:attachment":[{"href":"https:\/\/nyiac.org\/wp-json\/wp\/v2\/media?parent=29"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}