Partner Ioannis Alexopoulos comments in IBA Global Insight in relation to developments in the international arbitration market.
This article was published in the October/November issue of IBA Global Insight, and can be read in full here.
“Signature Litigation partner, Ioannis Alexopoulos, would like to see a greater willingness by tribunals to help maintain procedural timetables, and to use sanctions for non-compliance with deadlines, as well as greater willingness to deal with weak claims or defences summarily…
… Russia has also introduced reforms to its arbitration law to bring it more in line with UNCITRAL. ‘The new rules introduce significant regulation of arbitration institutions, both domestic and international/foreign,’ says Alexopoulos. ‘Some of these changes have been designed to develop and increase the use of arbitration in domestic disputes, and to regulate an ever-increasing number of local institutions. The new rules, however, also remove certain types of disputes from arbitration, especially disputes involving a public element. The new Russian legislation also requires arbitration institutions to register locally. It remains to be seen whether this will increase or decrease the use of arbitration in Russia.’”