‘As arbitration clauses are widespread in some sectors of economic activity, there has been a serious impediment to the development of the common law by the courts in the UK [though] the UK has not reached the stark example… in the United States, where mandatory arbitration clauses in contracts are removing whole classes of claim from the jurisdiction of the courts and undermining aspects of the law’s development,’ noted Lord Chief Justice Thomas in his 2016 Bailii lecture. As he tries to reverse the arbitration tide so the common law can continue to develop public precedents, others are still promoting arbitration as the best way forward.
Niederer Kraft & Frey: Does transparency make arbitration more efficient?
Daniel Eisele
Partner, Niederer Kraft & Frey
Tamir Livschitz
Partner, Niederer Kraft & Frey
In recent times, a lot has been said and written in favour of, or against, transparency in international commercial arbitration. The transparency discussion has thus far culminated in the promulgation of the UNCITRAL Rules on Transparency in Treaty-based Investor-State Arbitration and the new policy adopted by the International Chamber of Commerce (ICC) International Court of Arbitration to publish certain information on arbitrators also in commercial arbitration. According to the ICC Court website, the new policy is ‘aimed at enhancing the efficiency and transparency of arbitration proceedings’. Parties can opt out of this limited disclosure and can request the ICC Court publish additional information about their case. The new rules and policies promoting transparency in arbitration seem to be an attempt by the ICC Court and others to address the increased criticism launched against arbitration in recent times as being an inefficient means to resolve disputes.
The Commercial Litigation Summit 2016: Marked to market
In a centrepiece debate, a group of heavyweight disputes veterans came together to discuss London’s much-lauded new finance court. Can it live up to expectations?
Even amid a packed programme at Legal Business‘s second annual Commercial Litigation Summit, the discussion on the newly-launched Financial List, the dedicated court backed by specialist judges and an innovative appeals track, was a highlight of the day.
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The Commercial Litigation Summit 2016: Dangerous territory
In an unusual session, Legal Business united top M&A lawyers and litigators to forecast the next wave of disputes to come when the deal cycle turns
It is a received wisdom of the legal industry that the economic cycle inevitably turns from market excesses and greed of the boom to the recrimination and disputes in the following recession. Yet in detail, the pattern – and corresponding risks – never play out the same way.
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Duelling dragons – the Asia disputes outlook
Hong Kong remains Asia’s disputes capital but Singapore continues to close the gap with sustained investment attracting more litigation and arbitration work
For so long the epicentre of dispute resolution in Asia, events have conspired in recent history to undermine Hong Kong’s status. Two years ago, hundreds of members of the judiciary led a silent march in response to a diktat from Beijing challenging the judicial independence of Hong Kong from the mainland. It was the start of what became known as the ‘umbrella movement’ protests.
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Everything must go – the London arbitration price war
There is a price war raging in the London arbitration market that has led law firm leaders to question their commitment to the practice. Is the bubble bursting?
Arbitration was a practice area until recently seen by many managing partners as reliably high margin and partner-driven but for how much longer? According to a growing number of industry veterans, a softening arbitration market has resulted in a spate of lowballing, particularly in London. While the average legal cost of arbitration at the International Centre for Settlement of Investment Disputes (ICSID) stands at $4.5m, according to a 2014 report by Allen & Overy, some advisers are winning work by promising to run the entire case for less than a tenth of that sum. While such claims are anecdotal, the Lebanese government recently released pitch information that showed 11 international law firms had pitched between $350,000 and $1m to defend it against an ICSID claim. The lowest bidder, Paris-based Bredin Prat, won the instruction.
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Perspectives: Toby Landau QC
I have been incredibly fortunate in my career. I feel that very strongly.
I come from a long line of doctors. It wasn’t my calling. Around 14, I got interested in law. I’ve always been argumentative and difficult. I grew up in North West London. There’s German on both sides of my family. All refugees. Striving and ambitious.
Perspectives: Robert Khuzami
My parents were professional ballroom dancers. My father managed the Arthur Murray studios on 5th Avenue. They met in the office and had a secret relationship. One day they got on the subway down to City Hall and got married on their lunch hour. Have you heard the saying: ‘The cobbler’s son goes shoeless?’ Well, the dancing instructor’s son went without dancing ability!
Perspectives: Mark Hastings
I always wanted to be a criminal barrister. I grew up watching Rumpole.
At university I read classics, did the conversion and worked out I didn’t want to be a barrister at all. They’re a different breed to me – I enjoy people and interaction. It was obvious to me it suited me better to be a solicitor.
Leader: A choppy disputes market and unease on the bench
Assessing the legal market for our third annual Disputes Yearbook there are many reasons for litigators to be bullish… and just as many to be uneasy.
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Judging the judges – identifying the stand-outs among the judiciary
The good, the bad and the ugly – we asked litigators to identify the judges that – for better or worse – stand out among the judiciary
The 2016 Legal Business judicial survey was not just focused on the overall strengths and weaknesses of the judiciary, it also asked respondents for their views on individual judges they have appeared before. There were some obvious favourites, and one outright villain (no prizes for guessing), and somewhere in between were several judges who impressed and disappointed in equal measure.
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Rack and ruin – the 2016 judicial survey
Funding cuts are putting the judiciary’s status as a world leader under pressure. Canvassing the profession, we find deep concern over prospects for the English courts
Who wants to be a High Court judge? Fewer than ever it seems. This, unsurprisingly, is a major concern for the UK’s top litigators.
Commercial Dispute Resolution Survey: Fighting strong
As Legal Business publishes its third annual Disputes Yearbook, and the second annual survey sponsored by Cornerstone Research, we scope the views of in-house counsel and private practitioners to shine a light on trends within the international disputes market
Results from the annual trends report from Cornerstone Research indicate firstly that the appetite for large-scale commercial litigation has yet to abate in London and, furthermore, that London’s lawyers continue to be lauded as the dominant players of international disputes.
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‘Milan is a natural candidate’: Italian IP lawyers target London patents court post Brexit
Italy’s intellectual property (IP) lawyers are eyeing up London’s branch of the Unified Patents Court (UPC) in the wake of EU referendum.
‘Thinking space’: Reed Smith to collaborate with clients with launch of new Innovation Hub
Reed Smith has made a concerted investment in the legal technology and innovation space with the launch today (4 October) of a dedicated ‘thinking space’, believed to be the first of its kind in London, after developing its own software to maximise efficiency in corporate deals.
SRA pushes ahead with super-exam proposals with second consultation
The Solicitors Regulation Authority (SRA) is pushing on with its ‘super exam’ proposals, launching another consultation following mixed feedback on the education reforms. However it said yesterday (3 October) it would delay implementation another year as it develops its plans.
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Magic Circle duo act on major post-Brexit IPO as ConvaTec lists
Linklaters and Freshfields Bruckhaus Deringer are advising medical products company ConvaTec on its anticipated $1.8bn initial public offering (IPO).
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Olswang exits continue amid merger talks as restructuring head quits for US firm
US firm McDermott Will & Emery has taken on Olswang‘s head of restructuring & insolvency Alicia Videon in the first exit from the firm since merger talks with CMS Cameron McKenna and Nabarro were revealed last week.
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Former Mallesons chair takes out KWM European managing partner election
King & Wood Mallesons (KWM) announced today (4 October) that Tim Bednall was elected as EUME managing partner, defeating Gareth Amdor in a two-man race for the position.
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Unilever carries out ‘informal review’ as current panel expires
Consumer goods giant Unilever is currently carrying out an ‘informal review’ of its current panel firms, after the roster expired in June 2016.
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