Key 2024 Arbitration Trends In A Changing World
2023 was another year of change brought by global factors, such as the Russia-Ukraine war, the rising trend of protectionism, the continued and increased disruption to supply chains, and inflation — all factors that are set to continue in 2024 and will give rise to dispute risks across different jurisdictions and sectors.
This article explores the key arbitration trends for 2024 and beyond. Key sectors, such as the global mining and commodities market, will continue to generate several disputes due to the energy transition and the race for critical raw materials. Environmental, social, and governance-related disputes will likely rise and have the opportunity to frame the future arbitration space for these issues.
On the procedural side, the amendments to the Arbitration Act 1996 and the High Court of Justice of England and Wales’ findings on Oct. 23 in Federal Republic of Nigeria v. Process and Industrial Developments Ltd. will both guide future arbitration proceedings and provide helpful lessons on confidentiality, disclosure and professional duty.
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This information is provided by Vinson & Elkins LLP for educational and informational purposes only and is not intended, nor should it be construed, as legal advice.