Editor's Column - about giving some of those less-publicised jurisdictions their say

AS international as we try to be, inevitably some countries don’t get as much coverage in The Maritime Advocate as others. This issue is about giving some of those less-publicised jurisdictions their say.

Take Oman for example. Majid Al Toky of Trowers and Hamlins looks at the ins and outs of the precautionary arrest procedure and how to progress from a precautionary to an executory arrest. Staying in the Middle East, C Chakradaran and N Asthana of Afridi & Angell look at the need for careful wordings on bills of lading under UAE law, referring to a recent judgment of the Dubai Court of Cassation in which the court gave recognition to a general reservation which was made on the bill of lading in the words ‘shipper's count, stow and seal’ and held in favour of the carrier.

Change is also afoot in Russia where, according to Gavin Stoddart of Moore Stephens, now has never been a better time to do business. “The door to international finance and international markets is open, with traffic flowing in both directions. The only passport to success is sound and visible financial structures,” says Gavin, who offers some valuable advice on how to go about investing in Russia’s booming economy. Duncan Bateson of Lawrence Graham LLP also extols the virtues of investing in Russia, looking at what steps can be taken to reduce the country risk, closing with the observation that “there is no substitute for real local legal advice”.

Elsewhere in this issue, Manfred Arnold attempts to answer some of the more frequently asked questions on arbitration, most notably ‘how much does it cost?’ and ‘how long will it last?’ There are no easy answers but, as Manfred rightly points out, “If everyone is willing to proceed and bring the matter to a prompt conclusion, it is obvious that it will take less time than for a case where the parties have endless procedural arguments, or where one party is reluctant to come to the table”.

One not-so-frequently-asked question is, ‘When do the arbitrators get paid?’ “Sometimes promptly, sometimes late and, on occasion, not at all,” says Manfred, tellingly.

It only remains to thank all our readers and advertisers for their support during 2004, and to wish you all a happy, healthy new year.