Brussels to profit from Brexit with new English-speaking commercial court
A new English-speaking commercial court is to be established in Brussels, the Belgian government has announced.
The Brussels International Business Court (BIBC) would hear pleadings and deliver judgments in English, with judges coming from the county’s appeal court.
Lawmakers hope the BIBC can address conflicts stemming from Brexit and commercial matters between international companies.
BIBC judgments would not be subject to appeal and the parties or judge would be able to determine the applicable law.
In a statement on the plan, the Belgian government said: “If we are to make Brussels a hub for international business, those concerned must be able to resolve their legal disputes without going overseas or resorting to private arbitration.
“According to forecasts, Brexit will only increase the number of these cases and Brexit means it will no longer be as simple to go to a London court.”
Prime Minister Charles Michel said: “The European Union’s development cannot be held back by Brexit. Our country is seizing the moment to offer a new judicial tool.
“The competence and independence of our judges will help make this new jurisdiction extremely attractive”.