Supreme Court President Đuro Sessa (Photo: Marko Lukunic/PIXSELL) Supreme Court President Đuro Sessa (Photo: Marko Lukunic/PIXSELL)

Participants of the 26th international conference on arbitration in Zagreb on Thursday emphasized that arbitration reduces the burden on courts, helps the economy and makes Croatia a more desirable place for potential foreign investors. They also noted that no arbitration ruling in Croatia has ever been overturned by a court.

"Arbitration as an alternative has wrestled authority away from state courts, some would say ripped it from their claws, and allowed consenting parties to leave the decision to an appointed arbiter, and Croatia has a long-standing tradition in this," said Supreme Court President Đuro Sessa.

They also agreed that the institution of arbitration has not had any negative effects on citizens within the legal system. "I wouldn't say that arbitration reduces legal security, quite the contrary, I think it contributes to it, because it is a mechanism that is widely accepted internationally, especially in investment arbitration," said law professor Hrvoje Sikirić.

Source: HRT