Queensland now in line on commercial arbitration

Commercial disputes in Queensland can be solved more promptly after the Commercial Arbitration Bill passed through Parliament last night.

Attorney-General Jarrod Bleijie said the legislation brought Queensland into line with most other states and would make commercial arbitration a more attractive option for businesses involved in disputes.

“It is in the interest of all parties, where possible, that matters are resolved without the need for court proceedings and exorbitant litigation costs,” Mr Bleijie said.

“Concerns were raised the process had become too litigious and the Standing Council of Attorneys-General decided last year to adopt a model Bill in line with United Nations law.

“The passing of this Bill tonight ensures Queensland’s legislation fits that model.”

Mr Bleijie said the amendments would be welcome news for business, which would have an opportunity to solve matters without engaging in court cases.

“This model allows for disputes to be resolved with the assistance of an impartial arbitrator, leading to fair and final resolutions without unnecessary delay or expense,” he said.

“There was strong backing from industry for these amendments and there was also significant interest from Asia in seeing these reforms adopted in Queensland.

“It is important for the state economically, that we are seen as a good place to do business as we look to get our finances back on track.”

[ENDS] 8 March 2013

Media Contact: Matt Johnston 0432 535 893