Maritime Industry Sector:
LITIGATION & BANKRUPTCY
New York is the commercial center of the world, as well as a major port. Judges and lawyers in New York appreciate that fair, cost-effective and predictable dispute resolution is essential to the smooth flow of commercial activity in the city and port.
One Case, One Attorney
The same attorney can handle a case from inception through trial. The lawyer who handles pretrial aspects need not relinquish the case to another lawyer for trial.
Technologically Sophisticated Courts and Procedures
Leading the way in minimizing the burdens on parties, New York frequently allows testimony via telephone- or video-conferencing. Newer courtrooms, particularly in federal courts, are wired with state-of-the-art technology. Attorneys admitted to practice in the federal courts in New York may file papers electronically in those courts from anywhere in the world.
Precedents and Predictability
New York has a well-established body of precedent developed since the founding of the country. This precedent enables parties to more accurately analyze the risks entailed in a lawsuit and thereby resolve cases reasonably, well short of trial.
Commercial Courts for Business Disputes
The New York State Supreme Court (in Manhattan) has a special section dedicated to hearing only commercial disputes, unencumbered by tort litigation. This leads to earlier trial readiness and swifter final resolution.
Federal Courts Promote Efficiencies
The U.S. federal courts in New York assign both a judge and magistrate to each case. The magistrate streamlines pretrial proceedings and resolves discovery disputes. A magistrate may also hear the case (if the parties agree) for a faster and less expensive resolution. Court-supervised mediation is also available at no charge.
Expertise of Judges
The long terms for which judges in New York are appointed or elected to the bench enhance experience, impartiality and understanding of the parties’ positions.
Bankruptcy Code Offers Management Control and Breathing Room
Reorganization by existing management available under Chapter 11 in addition to liquidation under Chapter 7 by a court appointed trustee. In either case the automatic stay gives breathing room to companies and facilitates their ability to reorganize.
Business Judgment Rule Protection in Bankruptcy
Officers and directors who have acted with information and in good faith are protected from personal liability for company debts incurred while the company is in the zone of insolvency.
Financing Possibilities in Bankruptcy Proceedings
Well established market for third-party debtor-in-possession financing and claims trading.