The Admissibility and Adequacy of Collective Arbitration As a Mechanism for Access to Justice in the Capital Markets and Its Procedural Aspects

Abstract

This article deals with the main aspects of collective arbitration, from the perspective of admissibility and adequacy, as a mechanism for access to justice by injured minority investors and a way of protecting the capital market itself. Considering that there is no incompatibility between arbitration and collective actions, given that the arbitration procedure is flexible and can be adapted to the collective process, the article defends the existence of a minimum collective legal due process that must be applied to arbitration. Understanding the opposite means denying access to justice in cases where the collective action is superior to the individual one, in terms of costs and effectiveness of the decision. The article performs both an analysis of the minimum legal due process resulting from the collective procedural microsystem to be taken to arbitration, and the main procedural aspects of collective arbitration, focusing on good practices.