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Data show the stakes are high and rising for international arbitration cases, and New York, as the sixth most popular arbitral seat (tied with Beijing), will certainly see its share of the action.
The International Chamber of Commerce (the ICC) has hit the ground running in the new year with its 2021 Arbitration Rules (the 2021 Rules), which came into force on and apply to cases filed from 1 January 2021. The 2021 Rules mark the second update of arbitration rules by a major arbitral institution after the beginning of the COVID-19 pandemic. As covered in our previous client alert, the 2020 Arbitration Rules of the London Court of International Arbitration (the LCIA) took effect three months ago, on 1 October 2020 (the 2020 LCIA Rules). This alert discusses the key changes introduced...