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As many of you will be aware, the London Court of International Arbitration (LCIA) is marking the 125th anniversary of the formal inauguration of ‘The City of London Chamber of Arbitration’ (in 1892), which evolved into the institution we know so well today. This week, as a further demonstration of the LCIA’s commitment to increased transparency, a red-hot topic in international arbitration, the LCIA has released a database of 32 anonymised challenge decisions from the period 2010-17.
The published digests contain anonymised excerpts of the decisions, and are intended to provide a useful resource for users, counsel, and arbitrators, giving guidance on standards of conduct and providing a greater understanding of the reasoning applied by the LCIA Court. It is understood that the challenge decision database will be updated periodically when new decisions are issued. It will also be interesting to watch whether the challenge decision summaries published in 2011 in respect of the period 1996-2010 will be added to the publicly available database in due course.
The LCIA points to some interesting trends which emerge from the challenge decisions:
We will be considering the data in greater detail for Lexis®PSL Arbitration in due course.
The forthcoming release of the database was noted by Jacomijn van Haersolte-van Hof, Director General of the LCIA, at a packed, fun and fitting 125th anniversary celebration held at Somerset House last week and should be viewed in the context of other notable, recent LCIA initiatives:
It’s been nearly 4 years since the revised LCIA Arbitration Rules entered into force—another round of consultation has already been announced for this year’s symposia at Tylney Hall, which is not surprising given the speed of change in the field. The LCIA’s annual statistics will also be published in the coming months and are likely to reflect the institution’s steady and strong caseload, but it remains a key objective of the LCIA, as demonstrated by its Chairman’s recently published perspective, to ensure the continued inclusion of LCIA arbitration clauses in commercial contracts, particularly in light of strong competition from other leading institutions, for example the HKIAC (which is reported to have enjoyed a bumper 2017 due, in part, to the influence of Belt & Road disputes). For many people, even though international arbitration at the seat comes in many and various forms, London arbitration and the LCIA go hand-in-hand and the institution has an important role to play in helping maintain and develop London’s reputation as a preeminent seat of arbitration post-Brexit. Whatever may be on the horizon, the recent initiatives demonstrate the LCIA engaging with the arbitration community and its users to help ensure its continued success.
Some of the links require a subscription to LexisPSL Arbitration. For a free trial, click here.
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