Empowering London Arbitration — making arbitration easier at the LCIA
For the first time in 15 years, the London Court of International Arbitration (LCIA) is overhauling its rules for arbitration. The Drafting Committee of the LCIA Court circulated its final draft of the new LCIA rules to the LCIA Court in February 2014, for discussion by the court at its meeting at Tylney Hall on Friday 9 May, with a view to the promulgation of the new rules shortly thereafter. If approved, the rules could come into force later this year.
This article sets out the key changes included in the final draft of the new LCIA rules, with a particular emphasis on pitfalls for those used to the current rules and a sting in the tail for practitioners and in-house counsel.
Arbitration can now be initiated by email to the LCIA or by using the LCIA’s new electronic forms…
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Mr Justice Field, sitting in the Commercial Court, has had to consider the meaning of the phrase ‘proper and business-like’.
Swallowfalls v Monaco Yachting provides further support for the construction of contracts in the manner most consistent with ‘commercial common sense’.