• Thursday, June 20, 2024
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BusinessDay

Terminal operators approve use of ADR in settling maritime dispute

Nigerian-ports

Worried by the length of time it takes Nigerian court to resolve commercial dispute and others, terminal operators under the aegis of the Seaport Terminal Operators Association of Nigeria (STOAN), has backed the use of arbitration, mediation and other forms of Alternative Dispute Resolution (ADR) in settling commercial disputes in the maritime industry.

Vicky Haastrup, chairman of STOAN, who gave this approval when she received executive council members of the Maritime Arbitrators Association of Nigeria (MAAN) in her office, said that resolving maritime disputes through ADR would be much faster and less acrimonious than litigation.

“We will encourage the use of arbitration as much as possible because it has significant advantages over litigation in court, such as party control of the process, typically lower cost and shorter time to resolution, flexibility and privacy,” she said.

Mogbai Omoeboh, MAAN’s President who led the delegation on courtesy visit, said MAAN is motivated by the strong desire to provide effective and cost efficient alternatives for resolution of maritime disputes in Nigeria through arbitration proceedings and other ADR methods.

According to him, the association was organised to gather members who are ready, willing and able to serve as arbitrators of disputes arising in businesses in all aspects of maritime, energy and other related business.

“MAAN was conceived by practitioners, who have attained distinction and expertise in arbitration and maritime law in Nigeria. Following its incorporation in 2005, the executive council has acted as a steering body for the establishment of the associations’ ethos and structures. And they are committed to ensuring that MAAN maintains internationally accepted standards and best practices,” he explained.

Continuing, he states: “MAAN is borne out of the essential need to offer alternative resource and venue following recent developments in the industry as well as the pressure on the litigation system to deliver timely solutions. It is a membership organisation that is open to industry practitioners; service providers; consumers of arbitration services and all stakeholders,” he said.

Omoeboh further said the group aims to become a global leader in maritime dispute resolution by supporting and facilitating domestic and international arbitration as well as promoting Nigeria as a venue for settling maritime disputes.