LCCI, CDM-NET start new initiative in dispute management

For corporate organisations worried about how to quickly resolve problems with regulatory and commercial disputes, a new dawn has come.

The Lagos Chambers of Commence and Industry (LCCI) and Commercial Disputes Management Network (CMD- Net) have launched the Lagos Chamber of Commerce International Arbitration Centre (LACIAC) in Lagos.

LACIAC aims to provide fair and efficient Alternative Dispute Resolution (ADR) mechanism in Africa as well as viable and user friendly alternative to traditional litigation, offering a full-service ADR solutions, including arbitration, mediation and conciliation.

The chairman, Board of Governors, Mr. Babatunde Fagbohunlu (SAN), said CDM Net is an innovative concept, administered by LACIAC, to support businesses and corporate counsel in the management of commercial disputes and legal risk.

He added that it is an arbitral institution with an overall strategy consisting of the components of reorientation, reform and content that has effective resolution, which provide stakeholders a modern set of arbitration rules.

Also speaking at the launch, Vice Chairman LACIAC board of governors, Mrs. Adedoyin Rhodes-Vivour, stated that the rules of the institution provides an ideal framework of promoting the efficient and effective resolution of disputes, and ensuring that court cases are carried out in a fair and impartial manner by encouraging the parties co-operation in the conduct of proceedings, which has been achieved during the practice.

Rhodes-Vivour also stated that parties would be offered full discretion in selecting their representative, adding that there shall be no objections on the basis of nationality, sex, ethnicity, religion or any other personal quality during a proceeding.

The project was officially launched by a two time minister and the current President of LCCI, Mrs. Nike Akande.