Established in February 2016, the Commercial Court aims to increase the efficiency of disposing commercial cases within the Intermediate Court jurisdiction, through:
- Speedier resolutions
- Fostering innovation within judicial process
- Attracting foreign direct investments
This will ensure that cases for both local businesses and foreign investors are handled by an efficient, robust, reliable, and professional legal system. In addition, a court process, namely Case Management Conference (CMC) was introduced, for the court to be proactive in:
- Ensuring parties abide by set timelines;
- Narrowing issues;
- Facilitate in the discussions with the aim of an amicable settlement; and
- Ensuring that parties comply with court orders and/or directions.
Through the CMC, the court also offers parties the option of an alternate dispute resolution in the form of Mediation. Judicial Officers are trained to become a credited mediator. Currently, there are 6 accredited mediators.
Statistics for Commercial Court as at November 2016; Out of 155 registered cases,
- 70% of suits arose out of breaches under banking and financial services.
- The remaining 30% of suits concerned disputes under the sale and delivery of goods, breaches in development projects, breaches in tenancy agreements and sale and purchase of commodities.
- 77 cases resulted in entry of Judgment in Default of Appearance and/or Judgment in Default of Defense.
Commercial Court will hear cases of –
- A business document or contract;
- The export or import of goods;
- Insurance and re-insurance;
- Banking and financial services;
- The operation of markets and exchanges;
- The purchase and sale of commodities;
- Business agency.
Note: Existing rules in the RSC (Rules of the Supreme Court Act Chapter 5) and Intermediate Courts Act Chapter 162 shall apply.