LCIA Draft Rules 2014: addressing emergencies, efficiencies and ethics
By James Carter and Joanne Jones
It seems that it could be all change at the London Court of International Arbitration (LCIA), with new arbitration rules anticipated to come into force later this summer. The draft rules, which the LCIA published earlier this year, were the subject of lengthy discussions by the LCIA court on 9 May 2014. The court’s decision as to which of them will be adopted has yet to be released; however, it is anticipated that those that are approved will enter into force later this year.
The draft rules promote procedural efficiency, support adherence to ethical standards and propose new mechanisms by which parties to an LCIA arbitration can address emergency situations. The relative merits of the key amendments are considered below.
Arguably the most innovative proposal in the new rules, which is the imposition of conduct guidelines for legal representatives, is tucked away in an annex. These guidelines are applicable to all legal representatives appearing before an LCIA tribunal and provision is made for the tribunal to police adherence to them. A tribunal can impose significant sanctions in the event of default…
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