On
31 December 2013, the new Panamanian arbitration law was approved. Aiming at
modernize and support arbitration, the new law transposes, with certain
adaptations, the provisions of the UNCITRAL Model Law as amended in 2006.
Reacting against a jurisprudential trend that threatens arbitration in Panama,
the new law also includes provisions that ensure minimal judicial interventions
in arbitration, even in cases that such interventions are taken in support of
the arbitration.