Professor Loukas Mistelis speaks to the Commercial Dispute Resolution magazine about the new Arbitration Bill which will be set before parliament in the coming session.
The Bill will update the Arbitration Act 1996 and will allow arbitrators make the equivalent of a summary judgement where there is no real prospect of success; force arbitrators to disclose conflicts of interest that could affect impartiality through a codification of the duty to disclose and at the same time strengthen the immunity of arbitrators; and revise the process for challenging awards, among other things.
Loukas Mistelis, Clive M Schmitthoff Professor of Transnational Commercial Law and Arbitration at Queen Mary University of London and member of London International Disputes Week's strategy group, said: "The modernisation of the Arbitration Act has been eagerly awaited by most in the disputes community, and with the Commission's special parliamentary procedure being adopted we expect there to be a smooth scrutinization process. With there being some debate around the Bill's expansiveness, International Arbitration Day at London International Disputes Week is fully set to host this discussion and explore whether wider reforms should have been made."
Read the full article on Commercial Dispute Resolution (registration required).