Langues appliquées - Anglais : Economie, gestion, droit, AES - 4e - 221

international arBitration

The reputation of London's fair and consistent judiciary, its willing pool of thousands of highly
qualified lawyers and continued investment in its commercial court system have also contributed to
the fact that London is the venue of choice for some of the most complex and high-value international
disputes in the world.
However, London's position cannot be taken for granted. White & Case solicitor-advocate and
partner David Goldberg says: "London has been one of the biggest winners out of the growth of massive
international disputes, and it will continue to attract the highest value and most complex arbitrations
unless steps are taken to push away these disputes. These steps include the current inaction by the
Government to improve the quality of services and maintain the worldwide reputation of London as a
legal hub in the face of rising centres in the East." The Queen Mary survey found that while the London
Court of International Arbitration (LCIA) and International Chamber of Commerce (ICC) in Paris still
dominate, more businesses now prefer the Singapore International Arbitration Centre (SIAC) and Hong
Kong International Arbitration Centre (HKIAC) over the more mature seats of Geneva, Stockholm
and New York, representing a significant widening of the playing field. "Singapore is providing a real
challenge to London and other centres," says Davison. "The infrastructure's slick and the SIAC is a
business-minded institution. It's getting a lot of work from China and India. "There was a sense a few
years ago that London could soon hear a lot of Indian disputes because of similarities between our
legal systems, but it just hasn't happened."
Britain's decision to leave the EU is increasingly shaping the debate, and it is difficult to ignore
the Brexit issue when discussing arbitration, even if the overwhelming feeling is that it will have no
material impact on London's pre-eminence. Although most City arbitration specialists shrug off the
perceived threat of Brexit, other issues that could prove problematic to London's continued dominance
in the global market weigh more heavily on their minds. "The cost could definitely impact arbitration
development in London," says Weiniger. "London is a very expensive place to do arbitration, and it's
putting off a lot of people." Weiniger points to Germany, Austria, Denmark and Sweden as increasingly
attractive alternatives. "Their lawyers all speak wonderful English, the countries are extremely
uncorrupt and the cost of doing arbitration is a third of what it is in London," he says. Indeed, the
growing cost of arbitration is cited repeatedly as one of the biggest challenges to London as a venue,
and lawyers routinely speak of clients who are "shocked" by the cost of holding an arbitration in the
City, whether they win or lose their dispute.
Excerpt from: Tabby Kinder, Can London win the Battle of the Arbitration Centres,
The Lawyer, November 2016.
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