Provisional Relief in Aid of Arbitration | How to Deal with an Economic Crisis as an International Business (Ep. 8)
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Arbitral interim measures. Part 8 of our series on the tools and strategies that international businesses can take to protect their positions in an economic crisis. The New York CPLR (Civil Practice Law and Rules) provide for a host of interim measures to secure a party\\u2019s position at the outset of arbitration. This can take different shapes, but New York has what should be considered a creditor-friendly scheme in place. Edward Floyd, Partner at ZFZ, shares his experience with aiding a creditor in a tough market. New York\\u2019s procedure is using a fairly low burden, requiring only a showing that an eventual award might be rendered ineffectual without provisional relief. This is a valuable tool to keep in mind, particularly when you cannot use Rule B \\u2013 say if the claim is non-maritime, such as for a commercial product/commodity sales contract, and it contains an arbitration clause. Here at ZFZ, we are always looking to find creative solutions for our client\\u2019s problems. We combine maritime and non-maritime proceedings for optimal outcomes. Be in touch and we are happy to discuss. For further information please contact Ed Floyd or anyone from the ZFZ team to discuss this, or any of the other topics in the video series.
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