SINGAPORE (The Straits Times/ANN): In a landmark feat, Singapore has tied for first place with London as the top seat of arbitration in the world, based on a well-regarded survey.
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On 17 May 2021, the London Court of International Arbitration (LCIA) released its 2020 Annual Casework Report, which provides an insight into the LCIA’s caseload in 2020, and the impact the COVID-19 pandemic has had on its administration of cases. This follows hot on the heels of preliminary statistics released by the International Court of Arbitration (ICC), the Hong Kong International Arbitration Centre (HKIAC), the Singapore International Arbitration Centre (SIAC), and the China International Economic and Trade Arbitration Commission (CIETAC).
Caseload Reached an All-Time High
The LCIA had an extraordinary year in 2020, receiving 444 referrals, including 407 arbitrations pursuant to the LCIA Rules, together marking an all-time high and an 18% increase on 2019 alone. The long-term growth reveals a doubling of arbitrations pursuant to the LCIA Rules over the last decade, and the minimal number of related cases reduces
Commericial arbitration in Cambodia has seen a continuing surge of interest over the past decade, swiftly becoming a viable alternative to litigation due to its affordability, flexibility and lack of complex procedures.