Commercial arbitration is increasingly becoming the first line of defense in business disputes, especially those involving financial issues and a business’s solvency. Though these matters sometimes must be settled in a courtroom, arbitration can save everyone involved time and money, allowing everyone involved to move forward into the future.
Ideally, you will work with a Texas business attorney comfortable with the arbitration process and familiar with your industry. A variety of business disputes can utilize arbitration for resolution, including:
- Breach of contract
- Breach of promissory note
- Breach of fiduciary duty
- Tortious interference
- Many other business and personal torts
Sometimes a combination of litigation, mediation and arbitration are required to settle a legal issue in Texas business. The overall issue might be settled in the courtroom, but smaller sub-issues can be settled through arbitration. Bankruptcy courts permit arbitration of non-bankruptcy issues, but when it comes to certain foundational issues arising under bankruptcy law, lines are blurred and the courtroom is necessary.
In arbitration, proceedings are streamlined for private two party disputes which are overseen by those who might have detailed understanding of an industry. In court, a judge makes the final call – he or she understands bankruptcy laws, but might not have a firm grasp on the specifics of a situation or a discrete area of non-bankruptcy law. Arbitration is undoubtedly a useful method of alternative dispute resolution for Texas businesses, but should be examined on a case by case basis.
If you would like more information about arbitration or you are interested in discussing your specific circumstances call me at 214.295.9295.