According to a new draft law proposal, a new English-speaking commercial court could be created in Brussels.
The Brussels International Business Court (“BIBC”) would be the first court established in Belgium and continental Europe that would hear pleadings and render judgments in English. The judges would be selected from Brussels Court of Appeal judges and legal experts such as experienced lawyers or university professors.
The lawmakers hope that the BIBC would potentially resolve various conflicts generated by “Brexit” and important commercial issues arising between international companies.
Cases introduced before the BIBC cannot be appealed and parties (and even, sometimes, the judge) can freely select the applicable law.
The creation of the BIBC will put Belgium on the map of international courts. Moreover, this court could compete with the arbitration courts. The clerk’s office of the BIBC still needs to be established.
Through the establishment of the BIBC, the old debate of the choice between arbitration and judicial courts will be revived: may the best win!