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Leveraging the Standard of Ex Aequo et Bono to Increase Diversity, Flexibility and Efficiency: Insights from the Basketball Arbitral Tribunal

Leveraging the Standard of Ex Aequo et Bono to Increase Diversity, Flexibility and Efficiency:... Leveraging the Standard of Ex Aequo et Bono to Increase Diversity, Flexibility and Efficiency: Insights from the Basketball Arbitral Tribunal * ** GIULIO PALERMO , PANAGIOTIS KYRIAKOU Ex aequo et bono – Basketball Arbitral Tribunal – Arbitration costs – Diversity A. Introduction Ex aequo et bono is understood as judicial or arbitral decision-making in “justice and fairness”, or in accordance with considerations of “equity and conscience” as opposed to pre-determined norms. Tracing its roots back to the Medieval Law Merchant, the decisional standard of ex aequo et bono was once broadly embraced in international arbitration, as its ability to dispense with biases inherent in domestic laws rendered it particularly suitable within the context of disputes arising out of cross-border commercial transactions. Following the development of advanced international norms and the increased familiarity of arbitration lawyers with foreign and comparative legal concepts, the standard gradually lost steam; currently, the share of arbitrations held ex aequo et bono is fairly low, standing at 2-3%. In recent years, international arbitration has borne witness to a series of professional and socioeconomic developments, which, as the present paper argues, call for revisiting the standard of ex aequo et bono. First, technological and scientific breakthroughs http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png ASA Bulletin Kluwer Law International

Leveraging the Standard of Ex Aequo et Bono to Increase Diversity, Flexibility and Efficiency: Insights from the Basketball Arbitral Tribunal

ASA Bulletin , Volume 38 (4): 16 – Dec 1, 2020
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Publisher
Kluwer Law International
Copyright
Copyright © 2020 Kluwer Law International BV, The Netherlands
ISSN
1010-9153
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Abstract

Leveraging the Standard of Ex Aequo et Bono to Increase Diversity, Flexibility and Efficiency: Insights from the Basketball Arbitral Tribunal * ** GIULIO PALERMO , PANAGIOTIS KYRIAKOU Ex aequo et bono – Basketball Arbitral Tribunal – Arbitration costs – Diversity A. Introduction Ex aequo et bono is understood as judicial or arbitral decision-making in “justice and fairness”, or in accordance with considerations of “equity and conscience” as opposed to pre-determined norms. Tracing its roots back to the Medieval Law Merchant, the decisional standard of ex aequo et bono was once broadly embraced in international arbitration, as its ability to dispense with biases inherent in domestic laws rendered it particularly suitable within the context of disputes arising out of cross-border commercial transactions. Following the development of advanced international norms and the increased familiarity of arbitration lawyers with foreign and comparative legal concepts, the standard gradually lost steam; currently, the share of arbitrations held ex aequo et bono is fairly low, standing at 2-3%. In recent years, international arbitration has borne witness to a series of professional and socioeconomic developments, which, as the present paper argues, call for revisiting the standard of ex aequo et bono. First, technological and scientific breakthroughs

Journal

ASA Bulletin – Kluwer Law International

Published: Dec 1, 2020

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