Five years of the Hinestrosa Law
At the Business Law Department "II Arbitration Conference," participants discussed the progress and challenges of Law 1563 of 2012, named Hinestrosa Law, in memory of the late Externado rector, Fernando Hinestrosa.
On July 12, 2012, at the enactment of the General Process Code and the National and International Arbitration Statute, President Juan Manuel Santos declared it would be a fitting tribute that the Arbitration Statute, the last contribution by Fernando Hinestrosa to Colombian legislation, “be known as the Hinestrosa Law.”
The Arbitration Statute, implemented October 12, 2012, has, since its inception, represented a step forward in national arbitration matters.
“This law achieved ad hoc arbitration, as a mechanism parties can resort to without having to go through an arbitration center; it is useful and necessary,” said Ramiro Bejarano, director of the Procedural Law Department and a member of the Law’s drafting Commission.
For his part, Juan Carlos Henao, Externado University Rector, evoked Dr. Hinestrosa and his important contribution to the Colombian justice system and the country’s Academia: “The work by Fernando Hinestrosa in the area of arbitration was momentous. Today, on the law’s fifth anniversary, we recall the contributions to the country by this eminent jurist,” said the Rector.
Outstanding among the Statute’s norms, aimed at ensuring arbitration proceedings transparency, in general, and, in particular, those involving public entities, are those relating to the limit on the number of State arbitral processes where arbitrators and Secretaries may intervene, and their obligation to report their relationship with parties and attorneys.
According to the panelists, the Statute was mainly seeking to include Colombia in the international arbitration new trends and, more generally, seeking alternative methods for dispute resolution.
Attending the session were the drafters of the Law who made a retrospective analysis of the most controversial issues, which will be the basis for discussions in all fields of the Law, from widely developed topics such as Administrative and Commercial Arbitration, to others whose impact has not yet been established, such as Small Claims Arbitration.
Additionally, young National and International Arbitration talents had the opportunity to debate and present their positions within the Conference’s academic space.
Arbitration is currently one of the most important branches of the Law, for its contribution to conflict resolution. During 2015, the Arbitration Center of the Bogotá Chamber estimated the value of the claims filed amounted to 2.42 billion pesos.