Six former partners at international firms have today announced the creation of a new global practice dedicated to arbitration.
Three Crowns will have offices in London, Washington and Paris and will focus on international commercial clients.
The firm is led by former Freshfields arbitration lawyers Jan Paulsson, Constantine Partasides (pictured) and Georgios Petrochilos, former Jones Day partner Luke Sobota, former Covington & Burling co-chair Gaetan Verhoosel and former Sherman & Sterling partner Todd Wetmore.
The new firm promises partner 'hands-on involvement' throughout the arbitration process, as well as 'lean staffing and flexibility in pricing'.
Barristers, academic consultants, and ad hoc professionals will be called upon as needed for the needs of each specific case.
Paulsson said: 'International disputes call for specialist, focused advice and advocacy. We are confident clients will be attracted to this model, which ensures they will have direct access to a senior team.
'Our new business structure avoids issues inherent to larger firms and brings highly experienced, well-respected names to the specialised field of international arbitration.'
Arbitration is increasingly being seen as a worthwhile form of dispute resolution as the nature of commercial transactions and investment become more international.
Proponents of arbitration say businesses prefer it to court litigation because of its finality, enforceability and procedural flexibility.