Arbitration is sometimes touted as a more effective dispute resolution mechanism than litigation. In the U.S., one of the main reasons businesses build arbitration clauses into their contracts is the desire to avoid the lengthy and costly process of litigation. The American Arbitration Association (AAA) suggests that the average AAA arbitration (for domestic and commercial disputes) is resolved within 11.6 months, while the average U.S. federal court case can take 24 months just to […]

First, Bright J unequivocally held that Mr. Chechetkin qualified as a consumer under the CRA 2015 due to the fact that, at the date of submission of the application to open the account at Payward, Mr. Chechetkin was a lawyer and clearly stated that he had no relevant experience of cryptocurrency trading. As such, Bright J disregarded Payward’s argument whereby Mr. Chechetkin had conducted his trading activities in a knowledgeable, experienced and sophisticated manner, […]