ICC reports ‘high level of activity’ whilst LCIA notices a ‘healthy increase’ in casework
ICC – Key Facts
In 2012 applications for arbitration from the ICC saw a small decrease of 4.65% to 759 requests, down from 796 in 2011.
But the ICC maintains that it has seen ‘exceptional activity’ over the last 4 years, with yearly averages of 791 applications and 473 awards.
2012 saw the introduction of the new 2012 ICC Rules of Arbitration, designed to reinforce the ‘efficient and cost-effective arbitration process’. This included the new provision for emergency arbitration, for which two applications were made.
75% of cases involved amounts in excess of US$1 million.
10% of cases concerned state or parastatal parties.
LCIA – Key Facts
The LCIA states that applications for arbitration totalled 265 in 2012, an increase of 18.3% on 2011.
The area with the greatest proportion of applications for arbitration concerned commodity transactions, with 16%.
Meanwhile, the area with the greatest proportion in 2011, concerning loan or other financial agreements, accounted for 11%.
Almost 50% of those parties who referred disputes in 2012 were European, with parties from the UK making up 16 % of the worldwide figure (compared with 17.5 % in 2011).
The general trend suggests that there is a growing preference for sole arbitrators over a group of three arbitrators. In 2012, 54% of cases were assigned a sole arbitrator, whereas in 2009 the proportion was just 36%.
Just under 40% of the claims were for a sum exceeding US$1 million.
12% of claims were worth over US$20 million.
“Although there has been considerable fluctuation over the last few years, the overall trend remains positive”, analysed the registrar’s report.
Curieusement les anglais font davantage confiance que les continentaux à l’arbitre unique (souvent un barrister), moins cher et plus rapide.
