Our latest thinking on the issues that matter most in business and management.
Everyone concludes at least one insurance contract in their lifetime – to protect their home, car, or life, or to ensure coverage of health expenses when traveling abroad. Most people are familiar with the main characteristics of the insurance contract – it is concluded in writing, most often in the form of an insurance policy, the general terms and conditions of the insurer apply to it, the policyholder has obligations to declare certain circumstances (the so called circumstances affecting the risk) and to pay a premium. In their turn, the insurer has one main obligation – to pay indemnity upon occurrence.
On October 6, 2015, the Court of Justice of the European Union (CJEU) issued its judgment on the Maximillian Schrems vs Data Commissioner case (the “CJEU Decision”). Within the week, dozens of client alerts circulated from law firms describing the impact of the decision on companies operating within EU member jurisdictions and beyond. What follows here is a review of pressing issues in various CEE jurisdictions, considering this decision and its ramifications.
One of the main and well known advantages of arbitration is the speed of the proceedings. In order to enhance their timeliness and efficiency, the Rules of some arbitral institutions provide for the so called “scrutiny of the award” – a procedure of formal examination of the draft award carried out before it is signed by the arbitrators, and the parties are notified of it.
Growing number of companies worldwide choose arbitration as a dispute resolution method rather than litigation, when handling complex commercial disputes. The benefits of arbitration in comparison to litigation are well known: speed of proceedings, competence of arbitrators, simplified enforcement procedure, lower costs (at least in Bulgaria), etc.
E-Justice is a concept that aims at a comprehensive reform of the judiciary, in order to introduce information and communication technologies to ensure the ability of participants in judicial and pre-trial proceedings to exercise procedural rights in electronic form, but also to the judiciary to perform certification statements electronically. E-justice is not a one-time act. It is a set of financial, organizational, technological, educational and regulatory measures aimed at the effective use of information and communication technologies in the judiciary. *The publication is in Bulgarian.
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