This page contains a Flash digital edition of a book.
visit www.finance-monthly.com


across al ternat ive dispute resolut ion


103


There is not likely to be any major legislative changes in the near future as regards to existing legal regimes that impact businesses, except for the Arbitration Act which is expected to be reviewed by the National Assembly, based on the draft bill submitted in 2005 by myself when I was Attorney General of the Federation and Minister of Justice.


Q


How does your firm assist clients involved in dispute resolutions? Is there any general advice


you could offer clients to prevent the situation from escalating?


We assist clients involved in dispute resolutions by representing their interests. If we are involved in negotiating the transactions in the first place, we try to structure the contracts and agreements in such a way as to reduce areas of friction or possible dispute. But, if a dispute does arise, we try the time-honoured mechanism of negotiation. We talk to the other party/parties or their counsel. We try to find common ground and to narrow the areas of dispute as much as possible. We assess our client’s interests and consider their best and worst alternatives to negotiated resolution. Should negotiation fail, we may, in appropriate cases, adopt mediation or arbitration and as a last resort the matter may go to litigation. Clients are advised to seek advice and assistance from Counsel as early as possible. This revents the escalation of disputes. They are also encouraged to separate their personal feelings from the business disputes.


Q


Do you foresee the need for legislative change in the next 12-24 months, if so why?


There is not likely to be any major legislative changes in the near future as regards to existing legal regimes that impact businesses, except for the Arbitration Act which is expected to be reviewed by the National Assembly, based on the draft bill submitted in 2005 by myself when I was Attorney General of the Federation and Minister of Justice.


It is expected that


a major over haul, which will take into cognizance best practices in different jurisdictions since 1988 when the current legislation was enacted, will result from such a review.


Q


What are the future aspirations and direction for your company? How do you see your practice area progressing for the rest of 2011?


We at Bayo Ojo & Co., hope to consolidate our position as one of the leading firms in arbitration (and


fi MONTHLY MARCH 2011


other alternative dispute resolution methods) and in oil and gas law in Nigeria. We expect that our reputation will spread wider across the international business community during 2011 and beyond. fi


For more information about Bayo Ojo & Co., please visit www.bayoojoandco.org


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100  |  Page 101  |  Page 102  |  Page 103  |  Page 104  |  Page 105  |  Page 106  |  Page 107  |  Page 108  |  Page 109  |  Page 110  |  Page 111  |  Page 112  |  Page 113  |  Page 114  |  Page 115  |  Page 116  |  Page 117  |  Page 118  |  Page 119  |  Page 120  |  Page 121  |  Page 122  |  Page 123  |  Page 124  |  Page 125  |  Page 126  |  Page 127  |  Page 128