This blog post was first published on the Practical Law Arbitration blog. The use of international arbitration has expanded over the years to encompass a wide array of sectors. For example, while the majority of financial services disputes still end up in court, many of them are submitted to arbitration. Of the London Court of International Arbitration’s (LCIA’s) caseload in 2016, 20% comprised of such disputes. This was more than either construction or shipping. This raises the question of which other industry sectors might provide a larger number of arbitrations
The LCIA has issued three guidance notes on arbitrations under its rules. The notes, which are available on the LCIA website, contain guidance for arbitrators, guidance for parties and their representatives, and guidance on emergency procedures, respectively. The guidance notes will be particularly useful for those with little or no experience of arbitrating under the LCIA Rules, and/or the emergency procedures provided for under those rules (namely expedited formation of the Tribunal and the emergency arbitrator procedure introduced in the 2014 version of the Rules). The Notes for Arbitrators cover
As discussed in our previous post, despite emergency arbitrator procedures becoming increasingly common in institutional arbitration rules, the uptake of the various emergency arbitrator procedures that have been introduced to date has been limited. Since then, the revised LCIA Rules have been published, which (as noted in our post) provide for the appointment of an emergency arbitrator, whilst also retaining the option of applying for the expedited formation of the arbitral tribunal. This confirms that the option of seeking relief from an emergency arbitrator is increasingly expected to be available.
The London Court of International Arbitration has completed the process of revising its arbitration rules (which we previously discussed in March 2014) and has published the final revised rules on its website. The new rules will take effect from 1 October 2014. The LCIA has stated that the Rules will “ensure an effective, efficient and fair process” and that they “modernise and improve upon the existing version, reinforcing the LCIA as one of the world’s leading providers of efficient international arbitration services”. In general, the amendments have sought to bring
The London Court of International Arbitration has published a “final draft” of its revised arbitration rules on its website. The aim is for the draft rules to be discussed at the LCIA Court meeting at Tylney Hall on 9 May 2014. If approved, the revisions will come into force shortly afterwards. The main thrust of the proposed changes is to improve procedural efficiency by reducing the scope for abuse of process and by modernising provisions which were last updated in 1998. Features of the new Rules likely to be of
A feature of the wave of revisions to the rules of various arbitral institutions over recent years has been the rise of the emergency arbitrator. The International Centre for Dispute Resolution (“ICDR”) and Stockholm Chamber of Commerce (“SCC”) were early trend-setters, introducing emergency arbitrator procedures that came into force in 2006 and 2010 respectively. The emergency arbitrator has since become widespread in international arbitration rules: institutions including the Hong Kong International Arbitration Centre (“HKIAC”), Singapore International Arbitration Centre (“SIAC”), Kuala Lumpur Regional Centre for Arbitration (“KLRCA”), the Swiss Chambers of
As part of South Korea’s ongoing efforts to establish itself as an international arbitration destination to rival Hong Kong and Singapore, the new Seoul International Dispute Resolution Centre opened at the end of May. The new centre, which has four hearing rooms and three preparation rooms, is fashioned after Singapore’s Maxwell Chambers, and will host arbitrations held under the rules of major arbitral institutions – including the Hong Kong International Arbitration Centre, the Singapore International Arbitration Centre, the London Court of International Arbitration, the ICC, the International Centre for Dispute