Undeniably one of the more significant events of the last few years, Brexit has had wide ranging impact on the United Kingdom and the EU.
The United Kingdom will also not be re-acceding to the Lugano Convention, which governs judicial co-operation between the EU and the EFTA states.
However, this is expected to have very little impact on international arbitration.
This is because arbitration agreements are contractual, and the laws applicable, will be the national laws as agreed by the parties, which would also govern the methods of challenge. Enforcement of arbitral awards is also governed by the New York Convention 1958, and so you should not need to worry about the impact of Brexit in respect to any of the disputes arising out of the nature of your business/contracts.
What is important is that arbitration clauses are drafted clearly and unambiguously. For This can make a real difference when ensuing you are fully protected in the event of a dispute.
Whatever your arbitration needs – we have the team of experts to help. Contact us today and we will happily discuss your needs and what we can do for you.