1. “Custodian” of New York Law as an International Standard. It is said that more international transactions are governed by New York law than the law of any other jurisdiction in the world. While New York can be proud of the reception that its law has received throughout the world, this fact carries a corresponding responsibility to make New York law as strong, flexible and useful for purposes of structuring cross-border business and personal transactions as possible. The process here should be reciprocal and not competitive. There is after all no copyright on New York law; other jurisdictions can incorporate New York legal concepts or provisions that they deem meritorious. At the same time, New York must learn about and be willing to adopt meritorious provisions of laws that other jurisdictions have adopted or recommended.
2. “Guardian” of the New York Convention on the Enforcement and Recognition of Arbitral Awards and the international arbitral process. The United Nations Convention on the Enforcement and Recognition of Arbitral Awards was negotiated, drafted and signed in New York City and hence it is better known as the “New York Convention.” The New York Convention is the key to what has made international arbitration such a force in private and even public international law because, with it, has come substantial assurance about the enforceability of arbitral awards through national courts even where the courts have not rendered the awards whose enforcement is sought. With the help of our chapters we should be able to maintain up to date information about the implementation of the New York Convention throughout the world. We should also take a lead in discussions and proposals about updating the Federal arbitration act, other national arbitration statutes, and the arbitral process itself.
3. “Monitor” of International Law Development at the United Nations. The United Nations is headquartered in New York as well as the Secretariat of the International Law Commission. It is important that the international bar be knowledgeable about and involved in the process of law formation and treaty development that occurs through the United Nations and its agencies, such as UNCITRAL and UNIDROIT. For this purpose the Section should take the lead in assuring that NYSBA, or at least the International Section, has NGO status at the United Nations (as the ABA and the NYCBA already have) and, once achieved, plays an active role in the UN discussions and debates on matters of importance to NYSBA International members and their varied practices and civic concerns.
Approved by the NYSBA International Executive Committee
September 15, 2009
Posted on behalf of Chair Michael Galligan, Esq.