In a recent article posted by the New York State Bar Association (NYSBA), state bar president Domenick Napoletano discussed joint efforts between the NYSBA and the New York Commercial Division’s Advisory Council to attract complex commercial disputes to New York. Napoletano stated that New York’s Commercial Division is “renowned as one of the world’s most efficient venues for the resolution of commercial disputes.” However, there is still unrealized potential to promote the Commercial Division to businesses and litigators across the country and around the world. According to Napoletano, the NYSBA is helping to promote the Commercial Division by, among other things, distributing a variety of educational materials about the Commercial Division, including a short film, a one-page flyer, and a document describing the benefits of the Commercial Division. All of these materials were produced by the Advisory Council.
Napoletano also emphasized that attracting more commercial litigation business to New York could result in sizeable revenue increases for New York law firms. In 2011, the NYSBA issued a report which projected that a 10% to 20% rise in the volume of dispute resolution in New York could increase revenues for the state’s law firms by $200 to $400 million annually. According to Napoletano, in 2024, the “Advisory Council’s current goals are much higher than that.”
Posted by Doug Toering and Matt Rose of Mantese Honigman, P.C.
