News

9 August 2021

MEDIA RELEASE: Dispute resolution the key to solving financial disputes

Resolution Institute's 2021 Dispute Resolution Conference

9 August 2021

On the 15th and 16th of July over 400 delegates descended virtually on to the  Resolution Institute 2021 international conference, Resilience and Reinvention: Dispute Resolution During a Crisis. Distinguished guest speakers included Her Excellency the Hon Margaret Beazley AC QC, Governor of NSW and The Hon Michael Kirby AC CMG who delivered the keynote address, titled Wicked Problems. Bright Solutions.

Other speakers appearing at the event included key influencers and stakeholders from the business, government, law, judiciary, commercial and academic sectors.

Emma Hodgman, a Partner at national corporate law firm Thomson Geer, chaired a panel titled “Dispute Resolution in the Banking and Finance Services” where she spoke about Alternate Dispute Resolution not being new to the Australian banking and financial services industry.

“The industry has been the beneficiary of having adopted an early, multi- layered approach to resolving disputes in an effort to avoid litigation where possible. Working closely with regulators and other key stakeholders, the industry has been successful in achieving an increase in the number of disputes that are resolved in the internal dispute resolution phase.”

Many stakeholders, Ms Hodgman went on, believe this approach has meant a better outcome for customers, banks and the community generally as it avoids the delay, costs and stress that is often associated with litigation. It also gives the parties greater control over the process and increased flexibility in how disputes are resolved.

As COVID-19 continues to disrupt the local and global economies, significant challenges are apparent. For both private enterprises and public institutions, priorities are rapidly shifting under increased pressure and for organisations in dispute prone sectors, the efficient resolution of disputes is now more important than ever in order to maintain business and rebuild community confidence and harmony.

Resolution Institute is the peak industry body across dispute resolution disciplines in Australia and Aotearoa, New Zealand. We are a vibrant community of mediators, arbitrators, expert determiners, adjudicators, restorative justice practitioners and other dispute resolution professionals. We value integrity, excellence, innovation, collaboration, diversity, and influence. We reflect these values in our work for and with our members.

MEDIA CONTACT:

Sean Brogan, Public Affairs Manager: 0477 102 303