SIArb is privileged to welcome back Professor Lucy Reed, who was on an esteemed panel of speakers at the Institute’s “Party-Representative Ethics: Time to move the Needle? ” session in January, where she had shared some thought provoking views on what arbitral tribunals could do to set the tone of the proceedings and deal with complaints on counsel misconduct and disruptive or inappropriate behaviour.
Prof Reed, as Director of the NUS Centre for International Law and Professor at the NUS Law Faculty, and a former Vice President of SIAC and ICCA, brings with her decades of both practical and academic experience. At this latest seminar, she gave a light-hearted lecture of the differences one would find with the “Art” versus the “Science” in the decision making process, and finding the balance between them.
Sharing key pointers from her Kaplan Lecture 2012, some takeaways would include very practical insights on the concept of “Hindsight bias”, and on the topic of “extremeness aversion”, Prof Reed shared a study (Keer & Naimark Study) from the Centre for International Law, NUS, showing that Arbitrators do not “split the baby”, evidenced by a measure of central tendency over 54 international arbitrations.
For a full copy of the Kaplan Lecture 2012, please refer to the following link, courtesy of ICCA:
Prof Reed concluded with a topic very close to heart, that is whether tribunals are really dedicating the time required to understand the cases before them, and shared that one very practical method on increasing arbitral efficiency would be by using the “Reed Schedule”, in order to ensure a tribunal dedicates sufficient time to study the case file, with the goal of formulating specific and targeted directions for parties before coming for the hearing.
The session was chaired by the Institute’s Honorary Secretary, Mr Francis Goh, who closed the evening with an informative question and answer session. One of the most popular Q&A topics posed was on Prof Reed’s thoughts on the role of Artificial Intelligence in an arbitration.
In closing, Prof Reed concluded by sharing the importance of the Tribunal’s chair taking lead in an arbitration and in the drafting of the award, and how that goes a long way in portraying a tribunal as consistent and having one voice.
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Ruben Potter - Justicius Law Corporation