UK to be World Leader in Arbitration

The Government has announced new legislation to make the UK a world leader in arbitration.

The legislation has the potential to have a significant impact on the court system and we would recommend members to be aware of the proposed information provided below.

The government has announced plans to bring forward legislation to make the UK a world leader in arbitration. The new Bill, to be introduced to Parliament, will, according to Ministers:

• Solidify London’s reputation as best location in the world to resolve legal disputes
• Create simpler, faster, more efficient processes to benefit individuals and businesses
• Underscore the importance of arbitration, which is worth more than £2.5 billion to the British economy each year

Details of the new Bill can be reviewed here.

The CHO has been aware for some time that the government, and the judiciary, led by the Master Of the Rolls, views arbitration as a means of speeding up dispute resolution and reduce delays in access to justice. This Bill appears to be a manifestation of that policy initiative.