In the second of a series of Brexit updates & analysis by Penningtons Manches LLP, Clare Arthurs , Phillip D’Costa & Nicole Finlayson consider the future of arbitration
- Brexit should not adversely affect London as a seat for arbitration.
- UK courts remain committed to upholding arbitration agreements and awards.
- Legal framework and enforcement regime should remain unchanged.
The spectre of Brexit has sparked debate about the prospects for London’s continued pre-eminence as a global dispute resolution centre. But while we undoubtedly face uncertainties in the litigation sphere, how attractive will arbitration here remain as a dispute resolution option once we have parted (formal) company with our European neighbours?
Culture & framework
There are several reasons why parties around the world have long since chosen to resolve international disputes through arbitration seated in London. Unlike some other countries’ national courts, the English courts are well known for upholding the independence of the arbitral process and will not intervene unnecessarily: if the parties have chosen to arbitrate rather than litigate, the courts will respect
