Sign up for our free daily newsletter
YOUR PRIVACY - PLEASE READ CAREFULLY DATA PROTECTION STATEMENT
Below we explain how we will communicate with you. We set out how we use your data in our Privacy Policy.
Global City Media, and its associated brands will use the lawful basis of legitimate interests to use
the
contact details you have supplied to contact you regarding our publications, events, training,
reader
research, and other relevant information. We will always give you the option to opt out of our
marketing.
By clicking submit, you confirm that you understand and accept the Terms & Conditions and Privacy Policy
Figures from City UK, a group promoting London as a global business centre, shows that ADR peeked during 2009 in the wake of the financial crisis. That year there were 27,100 disputes resolved through arbitration, mediation or adjudication; but last year that number had slumped to 21,300.
Mediation up
The statistics also show a drop in international ADR heard in London over the same period – from 5,300 to 4,300.
However, not all the figures were down, as use of some forms of ADR increased. For example, while referrals for arbitration fell last year, mediated disputes rose.
Cheap London
A statement from City UK maintained that despite the falling numbers, London and the UK remained attractive venues for international dispute resolution. ‘London is the preferred seat of arbitration and companies are twice as likely to choose English law over other governing laws for arbitrations,’ it said.
The report also claimed that the cost of arbitration hearings specifically in the rest of Europe was 18 per cent higher than in London.
Email your news and story ideas to: [email protected]