ICC report on financial institutions and international arbitration: a condensed overview of a gradually changing landscape

This autumn, the ICC Commission on Arbitration and ADR published a report on Financial Institutions and International Arbitration (the "Report"). The Report offers a detailed analysis of the use of international arbitration in specialist sectors of the banking and finance industry, from derivatives and sovereign finance to advisory matters and asset management. The Report is … Read more

ICC ANNOUNCES A NEW EXPEDITED PROCEDURE TO COME INTO FORCE MARCH 2017

The International Chamber of Commerce (ICC) has announced changes to its Rules of Arbitration (ICC Rules) which will come into force on 1 March 2017. The changes include the introduction of an expedited procedure for small claims, as well as general amendments designed to streamline non-expedited cases, and provide greater transparency to the arbitration process. Read more

Onshore Dubai partners with Offshore: DIAC looks to develop “closer ties” with the DIFC

The Dubai International Arbitration Centre (“DIAC”) is now implementing its new strategy, designed to develop its international presence and dispel any notion that it is an 'onshore' only institution. On 27 September 2016, DIAC, arguably the leading arbitration centre based in onshore Dubai, inaugurated a new office in offshore Dubai, situated within the Dubai International … Read more

Recent Developments in India-Related International Arbitration

Herbert Smith Freehills has issued the latest edition of its Indian international arbitration e-bulletin. In this issue, we consider Indian court decisions, including the rejection of forum non conveniens arguments by the Delhi High Court allowing restaurant chain McDonalds to pursue an arbitration in London and various decisions in which the Indian courts show restraint … Read more

“We will pay for delays” – ICC clampdown on its award scrutiny process

On 13 July 2016, the International Chamber of Commerce ("ICC") issued its revised Practice Note allowing for a reduction in ICC administrative fees of up to 20% for unjustified delays in the ICC's award scrutiny process. The revised Practice Note also sets out the exact steps the scrutiny process entails. Reflecting on the amendments, ICC … Read more

Singapore arbitration update: Third Party Funding and New SIAC Rules 2016

This week has seen two major developments in Singapore arbitration. First, Singapore's Ministry of Law has published draft legislation to legalise and regulate third party funding for arbitration (and arbitration-related litigation and mediation) in Singapore. Second, the Singapore International Arbitration Centre (SIAC) confirmed the release of the sixth edition of its Rules: the SIAC Rules … Read more

LCIA releases Registrar’s Report for 2015

Earlier this month the LCIA released its Registrar's Report for 2015. The report, which is produced annually, gives an overview of the LCIA's casework for the year, providing detailed statistics regarding various facets of the LCIA's caseload, including the nature and subject matter of the contracts out of which its cases arise, and key figures … Read more