One critical dimension of effective enforcement is to ensure that judges and members of tribunals are sufficiently trained in commercial law and markets. In several Early Transition Countries, where concerns about contract and commercial law enforcement are greatest, the LTP has run wide-ranging commercial law judicial training projects. These have sought to train a pool of local judges who then work with international experts to deliver fundamental training to all judges hearing commercial matters in the given country.
The training covers areas of commercial law and practices most relevant to local and foreign investment and in which training is most needed, including: the interpretation of contracts, shareholder disputes, insolvency, competition law and intellectual property. Sector-based training has also been provided, such as disputes in the insurance and mining sectors. Local trainers remain available for future iterations of training run by the local authorities.
In eastern Europe, the LTP has focused on filling important gaps in judicial training and has developed training products in areas where questions of law, economics and finance intersect. These areas include:
• accounting skills for judges hearing insolvency matters
• economic concepts in competition law matters
• disputes over complex financial instruments.
Similarly, members of specialist tribunals must possess sufficient skills and knowledge to deal effectively with disputes in their jurisdiction. The LTP has devoted particular attention to providing specialised training and capacity-building for members of competition authorities and public procurement review bodies.