Following the announcement by the Lord Chief Justice that The Rolls Building, which houses the Chancery Division, the Commercial and Admiralty Court and the Technology and Construction Court, will be re-named the ‘Business and Property Courts of England and Wales’, Gary Campkin, Director, Policy & Strategy, TheCityUK, said:
“This is a forward-looking decision, indicative of the judiciary’s determination to ensure that Britain’s legal system remains world-leading and at the forefront of dispute resolution globally. It also gives greater clarity to users about the focus and coverage of legal services available at the Courts.
“The UK is the largest specialist centre for the resolution of financial, business and property litigation anywhere in the world. But high value commercial dispute resolution is a competitive legal service, and other jurisdictions are vying to take Britain’s crown.
“It is essential to ensure this country remains the jurisdiction of choice for international business and for dispute resolution. The efficient and cost-effective resolution of disputes is critical to that goal and to the ongoing development of English law. This is at the core of the international attractiveness of the UK and of our world leading legal services sector.”