As the Ministry of Justice opened the new Rolls Building in London last month, it announced that some nine out of ten commercial cases handled by London law firms have an international link.
The announcement confirms London as a hub for international commercial law, and cements the reputation of the capital as an unrivalled centre for international commercial dispute settlement.
The Rolls Building was formally opened by Her Majesty the Queen on 7 December as a specialist centre for the resolution of financial, business and property disputes.
The building brings under one roof the expertise of the Chancery Division of the High Court, the Admiralty and Commercial Courts and the Technology and Construction Courts. The state of the art courts complex covers over 16,000 square metres, with 31 court rooms, 11 hearing rooms and 55 consultation rooms. It has excellent transport links through City Airport and London's public transport network.
The UK and London have long been seen as an international centre for legal excellence. It is hoped that the launch of these new facilities will help make London the destination of choice for global businesses to settle their legal disputes.
Justice Secretary Ken Clarke said: "The world's business leaders come to the UK to settle their disputes so that they can move forward, trade can grow, and people can prosper."
"UK courts provide an internationally recognised guarantee of impartiality, integrity and enforceability. London's concentration of legal and financial expertise is unrivalled anywhere else in the world," he added.
The new building offers expertise including asset recovery, banking, commodities, company and corporate law, construction, finance, fraud, insolvency and reconstruction. It also has services in information technology law, insurance, intellectual property, international trade disputes, mining, oil and gas trading, partnerships, property, public procurement contracts, shipping, tax and trusts.
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