In the midst of the financial crisis, there have been significant developments which are seen as potential challenges to London’s pre-eminent role as a dispute resolution hub.
In the midst of the financial crisis, there have been significant developments which are seen as potential challenges to London’s pre-eminent role as a dispute resolution hub.
Increasing concerns as to cost and delay in Arbitration and court proceedings, coupled with the proliferation of regional dispute resolution centres, in places such as Singapore and Dubai, will inevitably mean that some international parties will locate their dispute processes elsewhere.
This is already happening, with Indian and Chinese parties being actively encouraged and incentivised to identify Singapore as the seat of arbitration in their contracts.
Nevertheless, there are clear signs that London’s legal community is beginning to take notice, and recognise that the room for complacency is limited.
The City UK
Responses include the formation earlier this year of The City UK, for the purposes of promoting London’s financial and professional services overseas. Chaired by Stuart Popham
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