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Green light for Brussels commercial court in English
Brussels is positioning itself as the go-to place for business dispute resolution in Europe post-Brexit, with the creation of a new English-speaking international commercial court.
Belgium's Council of Ministers on Friday approved the plan to set up the Brussels International Business Court, which will deal with international trade conflicts between companies.
The proposal was put forward by prime minister Charles Michel and federal justice minister Koen Geens earlier this month. All hearings and verdicts will be in English.
Geens said: "This international trade court will make Brussels even more attractive to entrepreneurs and investors, and will strengthen the reputation of the city as well as Belgium as a whole."
A case will only be heard by the Brussels International Commercial Court if both parties mutually agree. The court will receive no public funding and costs will be shared among the litigants.
Bruzz reports that the number of international trade disputes "will only increase" in light of Brexit. Contracts are often drawn up in English and many companies wanting to settle disputes in English currently do so in London.