In a recent column I commented on the apparent growing competition between the courts and private alternative dispute resolution companies for business related arbitration disputes.
The matter was brought to a head in Delaware where private litigants generally corporations are allowed to submit large disputes for an arbitration hearing before a sitting Chancery Court judge after the payment of a fee of $12,000, plus $6,000 per day. The matter is heard, pursuant to Chancery Court rules, following the submission of a petition stating the nature of the controversy. If it is determined that the matter qualifies (monetary damages must exceed $1 million, at least one party must be a business entity organized in or doing business in Delaware and no consumer may be involved), the Chancellor assigns a Chancery Court Judge to the arbitration.
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