“International arbitration a priority” says Swedish Minister of Justice
A parliamentary committee to further strengthen Sweden’s role as a preferred venue for international arbitration and to modernize the Swedish Arbitration Act has been appointed by the Swedish Government.
Swedish Minister of Justice Beatrice Ask states that the current Arbitration Act represents “a modern and well-functioning” piece of legislation, but as it has been more than 10 years since it was adopted, time has come to review the Act with the aim of maintaining Sweden’s role as a preferred venue for cross-border disputes in international business.
The directives for the committee, announced on 6 February 2014, point out a number of issues to be addressed, including
• Specific provisions in the Arbitration Act for multi-party disputes;
• Measures further enhancing efficient court procedures in challenge
• Possible measures by which challenge proceedings before Swedish courts
in cases involving international parties may be held in English; and
• Potential new provisions of the Swedish Arbitration Act to determine the
applicable law for the dispute.
The committee has been instructed to submit its report including proposals for revisions of the Swedish Arbitration Act to the Government by 15 August 2015. It will be chaired by former Justice Johan Munck.
- This decision illustrates the importance attributed to international arbitration by the Swedish government, says SCC Secretary General Annette Magnusson in a comment.
- It will contribute to Sweden maintaining its role as a jurisdiction with a strong, modern legal framework for international disputes, in the end fostering the growth and development of international business.
Committee Directive (in Swedish)
Press release from the Ministry of Justice (in Swedish)