Why are dispute resolution options important to clients doing business into and out of Latin America?
Jonathan: The availability of reliable dispute resolution mechanisms minimizes the risks of doing business across borders in Latin America and beyond. Historically, Latin America was perceived as a hostile environment for international dispute resolution due to unreliable courts, a cultural disdain for arbitration and the difficulty of enforcing judgments. The lack of reliable dispute resolution mechanisms was an impediment to economic growth. It remains a challenge today. Q: How has the legal framework for dispute resolution in Latin America changed in the past decade, particularly with respect to arbitration? Jonathan: Starting in the 1990s, most Latin American countries adopted a host of legal and policy changes aimed at promoting free markets. At the same time, they gradually changed their policies with respect to arbitration. To facilitate commercial arbitration, many countries changed their domestic arbitration laws, and those that had not ratified the New York and Panama Convent
