A Commercial Division of the High Court was officially launched today at La Place Carenage.
Prime Minister, Doctor Kenny Anthony, told the opening ceremony that it is expected that the new institution will ease the burden on civil division of high court.
Anthony said the hope is that this will bring a quicker resolution of commercial disputes and improve efficiency in the judicial system.
The Prime Minister expressed the hope that the investment climate would also be enriched.
He said a commercial court was important in protecting the rights of business people and members of the public.
According to Anthony, there would also be an unintended benefit of greater respect for contracts.
“Thousands of contracts are entered into every day, yet there seems to be little understanding that contractual obligations are sacred,” he asserted.
Anthony, a former University of the West Indies Law Lecturer, made reference to delinquent contractors who agree on one price to construct a home, but claim compensation for unintended costs on completion of the job.
“These experiences can be repeated in a whole range of transactions,” the Prime Minister told his audience.
He said the situation represented not only a legal but a cultural problem.
“This is one instance where culture compromises the application of the law,” Anthony asserted.