Global law firm Norton Rose Fulbright has today launched NRF Covid Resolve, a new online legal framework and process for expedited dispute resolution.
COVID-19 has made it difficult for many companies to perform some of their contractual obligations, giving rise to a high number of corporate disputes, particularly relating to the application of force majeure and change in law provisions.
Commercial contracts usually prescribe formal, lengthy and costly modes of dispute resolution. In the current crisis, the overriding need in many cases is to ‘get back to business’ quickly in a way which is still fair to all parties. ADR is being actively encouraged to avoid a deluge of post-COVID-19 litigations.
At the same time, due to the wider financial impact of the pandemic – particularly in the energy sector with the oil price crash – many in-house legal departments are under pressure to conserve legal spend.
To tackle this challenge, a taskforce of energy and disputes lawyers at Norton Rose Fulbright worked with NRF Transform – the firm’s global change and innovation programme – to develop NRF Covid Resolve. It is a dispute resolution process supported through a single online platform, that aims to achieve an outcome for each dispute within four to six weeks. The process can be used for both disputes between companies, or for disputes between companies within the same group, operating in both civil law and common law jurisdictions. Its fixed price allows users to effectively plan and control their budgets.
Parties may opt for a mediation process only, a mediation process followed by documents only arbitration or an arbitration only. The mediators and arbitrators are selected from a pre-agreed panel of independent sector specialists available through the platform.
Anne Lapierre, Norton Rose Fulbright’s Global Head of Energy and developer of NRF Covid Resolve, commented:
“The energy industry faces unprecedented challenges from COVID-19, compounded by the wider transformation of the sector as it undertakes the essential transition away from fossil fuels. As such, we feel it our duty to come up with practical solutions to help clients get back to what they do best as quickly as possible. Our unique solution to managing the influx of disputes will do exactly that. Taking this product from conception to launch in under two months is an achievement in which our energy and disputes lawyers should take great pride.”
Neil Q Miller, a London-based energy disputes partner, said:
“Businesses, governments, judiciary and commentators have all emphasised the need for a different approach to resolve the volume of potential claims arising from COVID-19. Many such disputes are not suited to lengthy, procedurally burdensome and costly traditional dispute resolution methods, with businesses being damaged by the impasse created from managing many live disputes with no way of efficiently resolving them. NRF Covid Resolve allows clients through their legal departments to adopt a fast track process and effectively plan, manage and resolve these claims whilst controlling external legal spend, which is a priority now more than ever.”
David Carter, Chief Product Officer for Norton Rose Fulbright and global lead for NRF Transform, commented:
“The impact of COVID-19 meant clients needed a solution rapidly or it would be too late to help. Our outstanding team of NRF Transform product managers, legal designers, business analysts, solutions architects and developers delivered a technical solution matching our lawyers’ vision. Simplicity was key; the intuitive platform is easy to access and navigate.”
The platform will be rolled out first to clients in the energy sector, with plans for the mediator and arbitrator panel to expand over the coming weeks so clients in all sectors can benefit.
Additional features of NRF Covid Resolve include:
- The parties agree to a documents-only procedure (save for the option of a one-day virtual mediation hearing, if selected), with a limit on the length of submissions in a prescribed form and number of supporting precedent documents (which are loaded through the platform).
- The standardised method allows in-house counsel to conduct the process should they wish, rather than have to instruct external legal counsel.
- The platform communicates deadlines, stores documents securely, reports progress and captures structured information.
- Awards and settlements are administered through the platform.
- Clear management reporting of individual disputes and (if applicable) a disputes portfolio is provided throughout the process.
Register your interest for NRF Covid Resolve here.
For more information on NRF Transform, visit NRFTransform.com.