Highlights from the 2018 LCIA Annual Casework Report
The LCIA released its 2018 Casework Report on 1 April 2019. The Report analyses the statistics from the LCIA 2018 caseload and contains a range of data broken down by sector, contract type and time elapsed since the underlying agreement was reached.
Some key points of interest from the Report are:
- The changes in the geographical spread shows the further diversification of the LCIA’s caseload.
- There is a need for further efforts to improve gender diversity in arbitral tribunals by all arbitration stakeholders.
- There is a significant rise in the number of disputes in the banking and finance sector.
- A growing number of applications for joinder and consolidation underlines the complexity of disputes submitted to LCIA arbitration.
- In terms of relief sought, LCIA administers a broad range of disputes.
- The number of challenges remains consistently low.
- Parties to LCIA arbitrations remain diverse in origin, with increasing numbers from India, Ireland, Cyprus and Mexico.
In terms of seat and applicable law:
- 76% of disputes submitted to arbitration are governed by English law, down by 9% on 2017.
- The number of arbitrations seated outside England and Wales rose from 6% in 2017 to 12% in 2018.
- There is an increase in the number of disputes governed by Cypriot law (4% in 2018) and by Mexican law (2% in 2018), as well as a rise in the number of disputes seated in Mexico (2% in 2018).
- 23% of arbitrator appointments (102 out of 499) were women.
- Women represent 43% of all arbitrators selected by the LCIA court, up by 9% from 2017.
- 23% of arbitrators selected by co-arbitrators were women.
- 6% of the arbitrators selected by the parties were women.
- The number of banking and finance arbitrations grew significantly, representing 29% of all cases, up from 24% in 2017.
- Parties from the banking and finance sectors are more often claimants (21% of claimants) than respondents (12% of respondents).
- The number of energy and resources disputes dropped from 24% in 2017 to 19% in 2018.
Multi-Party and Multi-Agreement Arbitrations
- 29% of arbitrations commenced in 2018 involved more than 2 parties, and 2% involved ten or more parties.
- 11% of cases commenced in 2018 involved disputes arising under more than one agreement.
- There is a growing number of applications for joinder (24 applications in 2018) and consolidation (19 applications in 2018).
- In 2018, monetary relief was the sole relief by the claimant(s) in 50% of Requests for Arbitration.
- In 13% of the cases, declaratory relief and/or specific performance was the sole relief sought.
- In 37% of the cases, the claimant(s) sought both monetary relief and declaratory relief and/or specific performance, up by 9% from 2017.
- 11% of arbitrations referred in 2018 with a quantified claim in the Request of Arbitration have a sum in dispute which exceeds 100 million USD.
- The numbers of challenges remained low in 2018.
- In 2018, there were only 6 challenges made, of which 4 were rejected and 2 remain pending at the end of 2018.
The full report can be viewed here.
Phillip Aquilina would like to thank Jane Jin for her assistance in the preparation of this article.