The Department for Company Law and Corporate Governance of the Law Faculty of the University Babeş-Bolyai in Cluj-Napoca, together with the Center for Commercial Law of the West University of Timişoara, and supported by the Romanian National Institute of Magistrates and the Romanian National Institute of Insolvency Practitioners, will host the ninth Romanian National Conference on Commercial Law.
Marija Scekic will speak on a panel titled “Costs and Efficiency in Arbitration”, focusing on the topic “How to render arbitration proceedings efficient—what clients must know.” Ms. Šćekić will discuss how to render arbitration proceedings more efficient, from a counsel’s and a client’s perspective, respectively. She will also explain, from the client’s perspective, that clients had to know that efficiency in arbitration was a question of the relationship between time, cost and quality: “Fast. Good. Cheap. Pick two.” There are, however, ways to reduce time and cost without reducing quality. She recommends clients consider an early case assessment to avoid arbitrating matters with low chances of success. She also recommends attempting to negotiate settlements. Close cooperation of in-house lawyers and external counsel is essential, and clients should consider tailor-made proceedings.