COIA Germany entered in Joint Venture with INBA
Court of Innovative Arbitration (COIA) Germany entered in Joint Venture with Indian National Bar Association.
- (1888PressRelease) July 02, 2016 - A new era in conflict resolution has begun in India, when a German based Court of Innovative Arbitration (COIA) inked a JV agreement with New Delhi based INBA Foundation, in order to create and manage new system for resolving disputes by establishing Centre for Innovative Conflict Resolution (CICR) in India for resolving all kinds of commercial disputes. The attempt is to create a conflict free environment for Corporates so to accelerate their productivity and efficiency. At the same time it also aims at providing efficient, expeditious and efficacious mechanism to resolve conflicts, if any, within the four corners of the Agreement by applying principles of justice & fairness rather than guided by traditional legalistic approach. COIA is closely associated with a German law Firm Martens Rechtsanwalte.
INBA Foundation has been promoted by a non-profit, non-political, non-Governmental Organization - Indian National Bar Association (INBA). Founded in the year 2013, INBA is one of the largest Bar Association in India. Besides other objects INBA aspire to reform the Indian Legal System to make available effective, efficient, inexpensive & quick justice for everyone and bring reforms in the Legal Systems, leading to nation's economic and business growth.
Centre for Innovative Conflict Resolution (CICR) seeks to emulate the COIA German Model with required modifications without disturbing its essence i.e. (a) procedural simplicity and (b) arbitration according to what is fair and equitable. The COIA has been fairly successful because of its simple & flexible approach, non insistence on legalistic framework, resolving rather the adjudicating the dispute, strict adherence to the principle of justice & fairness keeping in view the contract between the parties, meeting realistic timelines, minimum expenses and decide cases without even an oral hearing.
The Award by COIA is enforceable through New York convention. Mr. Axel Heck, is a driving force behind COIA. He has been a Member of the New York and German Bars for almost four decades and of Paris Bar from 1992 to 2006. Mr. Heck is a member of the Arbitration Commission of the International Chamber of Commerce, Paris, and of the International Panel of the International Dispute Resolution Center of the American Arbitration Association, New York City & Dublin. A prolific author and erudite speaker on international dispute resolution, his articles were cited before and by the U.S. Supreme Court and the Hague Conference on Private International Law. Mr. Percival Billimoria chairs the Governing Council of COIA-INBA Centre for Innovative Conflict Resolution (CICR) in India. Mr. Billimoria is an experienced counsel who heads the national litigation practice of Cyril Amarchand Mangaldass.
The CICR is expected to be functional from early October.
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