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The key takeaways of the 2021 LCIA report: The impact of the pandemic and the Russian-Ukraine conflict

By Signature Litigation
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Signature Litigation

As the arbitration community was recovering from the COVID-19 pandemic, new challenges from the Russian-Ukraine conflict have emerged. Arbitration practitioners must now navigate a global environment that is marked by the conflict’s ongoing consequences, including sanctions against Russia and Belarus.In Law.com International, Ryan Cable and Kimberley Bazelais noted that it is difficult to predict the long-term impact at present, however lasting effects can be anticipated on the number and types of disputes that will be generated by these geopolitical developments.Statistics published in the LCIA’s annual report provide insight into themes and trends emerging in international arbitration. On a global scale, the LCIA continues to be one of the preferred institutions of arbitration, despite the decrease in cases involving Western European parties. However, there is an increasing popularity with American parties, including Caribbean parties.

Ryan and Kimberley highlight that the abolishment of the DIFC-LCIA Arbitration Centre in September 2021, and the subsequent agreement in March 2022 noting that the LCIA in London will administer all existing DIFC-LCIA cases, it is likely that there is be an increase in cases connected to the Middle East.

Ryan and Kimberley are optimistic that there will be an increase in the number of female appointments by parties. They also hope that there will be an increase in the use of mechanisms to expedite proceedings, in light of the impact of the conflict in Ukraine.

 

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