New York courts: A continued tradition of important commercial decisions

Judge Loretta Preska, Chief Judge of the Southern District of New York, recently gave a speech entitled “The Elements of Commerce in the Twenty-First Century: How Commercial Courts Enhance a City’s Position as a Financial, Commercial and Legal Hub.” Preska summarized the factors necessary for a city to be a commercial hub in the 21st Century, including an educated populace, safe investment environment, business transactions and infrastructure upgrades. She emphasized the importance of a fair process of dispute resolution to ensure continued investment, the key attributes of such a system being independence, non-arbitrariness and even application of a predictable rule of law.

Preska noted the historical role New York courts have played in deciding important commercial cases.

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