| James Kon |
THE court has an active role to play in the development of laws underpinning commerce, finance and industry. The law functions to provide a framework within which all businesses operate and it is hoped that the newly established Commercial Court is able to play a significant role in Brunei Darussalam.
The importance of Brunei’s court in protecting investors’ rights and contracts enforcement through the newly established Commercial Court was underscored by Dato Seri Paduka Haji Kifrawi bin Dato Paduka Haji Kifli, the Chief Justice of the Brunei Supreme Court in his welcoming remarks at the Commercial Law Forum yesterday.
The introductions of the Commercial Court, which began from February this year, looked to expedite the hearing of commercial cases. The court hears disputes relating to contracts, the export and import of goods, insurance, banking and financial services, the operation of markets and exchanges and the purchase and sale of commodities.
“Economic progress cannot be realised without respect for the rule of law and the effective projections of rights, both of which require an independent judiciary that administers cases efficiently and is accessible to the public,” he said.
“Economics with a more efficient judiciary in which the courts can effectively enforce contractual obligations have more developed credit markets and a higher level of development overall.”
Dato Seri Paduka Haji Kifrawi bin Dato Paduka Haji Kifli, the Chief Justice of the Brunei Supreme Court with Lord Justice Sir Martin James Moore-Bick, Vice President of the Civil Division of the Court of Appeal of England and Wales, and Brunei’s senior judiciary officials in a group photo. – JAMES KON
The chief justice then further iterated it is of utmost importance that the rule of law is upheld and that the necessary dispute resolution mechanisms are put in place.
He also highlighted that Members of the Bar have the opportunity to support and help attain the country’s economic development goals in their role as facilitators for business clients and by helping produce legal frameworks that clients require.
With the support from all the stakeholders and adequate training, he hopes that the quality of Brunei Darussalam’s Commercial Court will be an attraction for trade and investment to this country and that enhancing the efficiency of the judicial system as a whole can improve the business climate, foster innovation and attract foreign direct investment.
Jointly organised by the British High Commission in Brunei Darussalam and the Judiciary Department of Brunei Darussalam, the Commercial Law Forum saw the Lord Justice Sir Martin James Moore-Bick, Vice President of the Civil Division of the Court of Appeal of England and Wales sharing his experience in the Commercial Court.
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