It is encouraging to read some positive news regarding Brexit, although only time will tell whether the prediction is accurate or not.
Where parties to a dispute are looking for flexibility, finality, confidentiality and enforcement, then arbitration could be a welcome alternative.
Presently arbitral awards are governed by the New York Convention, which includes rules regarding enforcement of awards. What makes arbitration an attractive alternative to traditional Court proceedings is that it provides certainty over the ability to enforce awards within any of the numerous countries who are a party to the New York Convention.
This is what some people believe will lead to the increase in disputes being referred to arbitration, as there remains uncertainty over the ability to enforce traditional Court awards in the European Union.
Typically disputes are referred to arbitration where the contract provides for a referral in place of traditional Court proceedings.
If you have a dispute and are unsure whether it is suitable for arbitration then please contact Sophie Samani on 0121 214 1215 or email@example.com
Brexit will have “beneficial effect” on arbitration, Lord Chief Justice predicts. There is a “strong case” that Brexit will have a “beneficial effect” on arbitration in England and Wales, the Lord Chief Justice has predicted. Lord Thomas said it was “quite wrong” to suggest that Brexit made the law of the UK uncertain, and argued that it “will have no effect on London’s key strengths”. “Parties wishing to arbitrate have immediate access to some of the most experienced international commercial arbitrators in the world, not only from the legal professions but also from specialist professional arbitrators practising in a variety of different fields." “In 2015, 25.7% of all claims commenced in the Commercial Court were arbitration claims. This rose to 26.6% in 2016.”