Research & legal analysis

Research & legal analysis/blog/Research & legal analysisFuture of LawNewsIn-house urn:uuid:8561a355-2d72-4e61-ac93-4671378f2804/blog/research-legal-analysis/prime-finance-london-conference-october-2024!Research & legal analysisP.R.I.M.E. FINANCE London Conference October 2024!By Nina Hall LLB and Dr Gustavo Moser of ��˾��ҹ�� Arbitration TeamOver 100 P.R.I.M.E. Finance Experts, banking finance lawyers and international arbitration specialists gathered in London for the annual P.R.I.M.E. Finance conference, hosted by Linklaters.The day opened with a well received speech by Mr Justice Henshaw, the latest member of the judiciary to take over the running of the London Commercial Court. Financial transactions dispute jurisprudence adds to the body of common law, with judicial rulings on mis-statements, reliance and the role of the regulatory bodies governing financial transactions playing their part in shaping the rule of law. Henshaw J discussed recent case law as well as commentary on the outlook for banking litigation expertly moderated by Mr Bob Pickel, chair of P.R.I.M.E. Finance.Rick Grove, member of the P.R.I.M.E. Finance Management Board, CEO of Rutter Associates, New York and a Finance Expert with P.R.I.M.E. moderated the next session: Market Developments and Geo-political Tensions: Potential Sources for Disputes. The attendees heard from Dr Nigel Gould-Davies[1] who identified a current retraction from the past 40 years globalisation trend towards retraction of state participation in global industry as a minor participant, with many sovereigns reverting to national ownership models, with attendant asset ‘grabbing’ on sovereign lines. Dr Sharon Brown-Hruska[2] commented that amongst the obvious tensions of war, the impact of the Chinese economy slowing down in recent years on globalisation had yet to be felt. Franck Risler[3] observed that not surprisingly these trends had resulted inTue, 15 Oct 2024 14:36:07 Z<div>By Nina Hall LLB and Dr Gustavo Moser of ��˾��ҹ�� Arbitration TeamOver 100 P<w:sdt sdttag="goog_rdk_0" id="24381802" style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">.</w:sdt>R<w:sdt sdttag="goog_rdk_1" id="2073689181" style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">.</w:sdt>I<w:sdt sdttag="goog_rdk_2" id="-361817311" style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">.</w:sdt>M<w:sdt sdttag="goog_rdk_3" id="369889692" style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">.</w:sdt>E<w:sdt sdttag="goog_rdk_4" id="-404687639" style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">.</w:sdt> Finance Experts, banking finance lawyers and international arbitration specialists gathered in London for the annual P<w:sdt sdttag="goog_rdk_5" id="-293911344" style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">.</w:sdt>R<w:sdt sdttag="goog_rdk_6" id="879284442" style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">.</w:sdt>I<w:sdt sdttag="goog_rdk_7" id="-1648123606" style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">.</w:sdt>M<w:sdt sdttag="goog_rdk_8" id="530006608" style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">.</w:sdt>E<w:sdt sdttag="goog_rdk_9" id="994533187" style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;word-spacing:normal;caret-color:auto;white-space:inherit;">.</w:sdt> Finance conference, hosted by Linklaters.</div>The day opened with a well received speech by Mr Justice Henshaw, the latest member of the judiciary to take over the running of the London Commercial Court. Financial transactions dispute jurisprudence adds to the body of common law, with judicial rulings on mis-statements, reliance and the role of the regulatory bodies governing financial transactions playing their part in shaping the rule of law. Henshaw J discussed recent case law as well as commentary on the outlook for banking litigation expertly moderated by Mr Bob Pickel, chair of P<w:sdt sdttag="goog_rdk_10" id="-566646568">.</w:sdt>R<w:sdt sdttag="goog_rdk_11" id="-1133480796">.</w:sdt>I<w:sdt sdttag="goog_rdk_12" id="447514379">.</w:sdt>M<w:sdt sdttag="goog_rdk_13" id="297420429">.</w:sdt>E<w:sdt sdttag="goog_rdk_14" id="-492634062">.</w:sdt> Finance.Rick Grove, member of the P<w:sdt sdttag="goog_rdk_15" id="-1046684076">.</w:sdt>R<w:sdt sdttag="goog_rdk_16" id="-1206485232">.</w:sdt>I<w:sdt sdttag="goog_rdk_17" id="-472679546">.</w:sdt>M<w:sdt sdttag="goog_rdk_18" id="472799564">.</w:sdt>E<w:sdt sdttag="goog_rdk_19" id="533238444">.</w:sdt> Finance Management Board, CEO of Rutter Associates, New York and a Finance Expert with P<w:sdt sdttag="goog_rdk_20" id="941799940">.</w:sdt>R<w:sdt sdttag="goog_rdk_21" id="-2129925637">.</w:sdt>I<w:sdt sdttag="goog_rdk_22" id="-1454329433">.</w:sdt>M<w:sdt sdttag="goog_rdk_23" id="-1267766798">.</w:sdt>E<w:sdt sdttag="goog_rdk_24" id="-914785423">.</w:sdt> moderated the next session: Market Developments and Geo-political Tensions: Potential Sources for Disputes. The attendees heard from Dr Nigel Gould-Davies<a href="file:///C:/Users/stevensa/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/HPRYX5ZI/DY_PRIME%20FINANCE%20LONDON%20conference%202024%20(002)%20rev%20gm%20091024%20final%20nh%20(AS)%20gm%20101024%20nh.docx#_ftn1" name="_ftnref1" title="" data-sf-ec-immutable="">[1]</a> who identified a current retraction from the past 40 years globalisation trend towards retraction of state participation in global industry as a minor participant, with many sovereigns reverting to national ownership models, with attendant asset ‘grabbing’ on sovereign lines. Dr Sharon Brown-Hruska<a href="file:///C:/Users/stevensa/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/HPRYX5ZI/DY_PRIME%20FINANCE%20LONDON%20conference%202024%20(002)%20rev%20gm%20091024%20final%20nh%20(AS)%20gm%20101024%20nh.docx#_ftn2" name="_ftnref2" title="" data-sf-ec-immutable="">[2]</a> commented that amongst the obvious tensions of war, the impact of the Chinese economy slowing down in recent years on globalisation had yet to be felt. Franck Risler<a href="file:///C:/Users/stevensa/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/HPRYX5ZI/DY_PRIME%20FINANCE%20LONDON%20conference%202024%20(002)%20rev%20gm%20091024%20final%20nh%20(AS)%20gm%20101024%20nh.docx#_ftn3" name="_ftnref3" title="" data-sf-ec-immutable="">[3]</a> observed that not surprisingly these trends had resulted in urn:uuid:cf34d889-7bb3-45ec-b87d-828ef1562e77/blog/research-legal-analysis/arbitration-statistics-2023-rising-caseloads-repeat-appointmentsResearch & legal analysisArbitration statistics 2023: rising caseloads and repeat appointmentsIn our seventh annual survey of international arbitration statistics, James Clanchy, arbitrator in independent practice and member of the Lexis®PSL Arbitration Consulting Editorial Board, notes that in 2023 caseloads rose to their second highest and appointments of arbitrators to their highest levels in the eight years covered by the study. He welcomes the return of the ICC’s detailed statistical reports and observes that they confirm the ICC’s uniqueness. The sectors which are the most productive of arbitrations worldwide, maritime and commodities, scarcely feature in the ICC’s caseload and remain in a footnote to the IBA Guidelines on Conflicts of Interest 2024. The ICC’s expedited procedure continues to grow as demand builds for faster arbitrations regardless of urgency.Fri, 26 Jul 2024 10:34:50 ZIn our seventh annual survey of international arbitration statistics, James Clanchy, arbitrator in independent practice and member of the <a href="/legal/experts/887" data-sf-ec-immutable="">Lexis®PSL Arbitration Consulting Editorial Board</a>, notes that in 2023 caseloads rose to their second highest and appointments of arbitrators to their highest levels in the eight years covered by the study. He welcomes the return of the ICC’s detailed statistical reports and observes that they confirm the ICC’s uniqueness. The sectors which are the most productive of arbitrations worldwide, maritime and commodities, scarcely feature in the ICC’s caseload and remain in a footnote to the IBA Guidelines on Conflicts of Interest 2024.  The ICC’s expedited procedure continues to grow as demand builds for faster arbitrations regardless of urgency. Arbitration on the rise againThe last two posts in this annual series reported on drops in the numbers of new cases and of appointments of arbitrators across the six international arbitration bodies chosen for our survey. The highpoint on both counts had been seen in 2020, the year after the outbreak of the global Covid-19 pandemic. As the graphs below illustrate, the statistics from these bodies show renewed increases in 2023 with the number of appointments of arbitrators reaching a slightly higher total than in 2020.  Shortly after releasing its caseload numbers for 2023, the International Chamber of Commerce (ICC) published its detailed statistical reports not only for 2023 but also for 2021 and 2022. This was welcome. As is clear from its reports, the range, diversity and international reach of ICC arbitration are unique. The data which the institution collates and publishes is fascinating and instructive. One of the motivating factors for our initial survey in 2018 was a suggestion circulating in the international arbitration community that London was already losing its pre-eminence as a seat, notably in ICC arbitrations, before the Brexit referendum in 2016 and that political uncertainty in its wake would further damage London’s appeal to commercial users. We were keen to see urn:uuid:b2f1130b-7747-4664-869c-9260f114ff49/blog/research-legal-analysis/cyber-2024-conference-chatham-house-londonResearch & legal analysisCyber 2024 conference—Chatham House, LondonCyber 2024 carried us through another series of engaging and insightful discussions, held on June 5th at the thought leadership hub that is Chatham House. Journeying through the security of Critical National Infrastructure, the realistic role of AI technologies, the interplay between cyberspace and trust and challenges to global governance, before ending with the always intriguing ‘Chatham House Rules’ sessions.Thu, 04 Jul 2024 10:02:04 Zurn:uuid:201d3317-1dfb-480e-ba28-5ddd46ed2e06/blog/research-legal-analysis/new-provisions-on-non-court-dispute-resolution-amendments-to-part-3-of-the-family-procedure-rules-2010Research & legal analysisNew provisions on non-court dispute resolution and amendments to Part 3 of the Family Procedure Rules 2010Here we summarise the discussion between family practitioners during #FamilyLawHour's session on non-court dispute resolution and new provisions in Part 3 of the Family Procedure Rules 2010 (FPR 2010).Thu, 27 Jun 2024 14:09:41 ZEarlier this month, family lawyers logged on to X (formerly Twitter) to join in #FamilyLawHour on the topic of non-court dispute resolution (NCDR) and to discuss the new provisions in Part 3 of the Family Procedure Rules 2010 (FPR 2010).This family law community event is organised by <a href="https://x.com/FamilyLawHour" target="_blank" data-sf-ec-immutable="">@FamilyLawHour</a> and takes place on the first Tuesday of each month, with a different topic and host each time. The #FamilyLawHour team kindly invited me to host this month’s event. I chose NCDR as a topical area of family law. Having drafted some questions in advance and prepared polls to gather views on key areas, it was great to see the level of interest in this area.<a href="/legal/family-law" data-sf-ec-immutable="">View family law practice notes, precedents and news articles</a><h4>Do you think FPR 2010, Pt 3 (non-court dispute resolution) has historically been underused and if so, why?</h4>The first question considered whether FPR 2010, Pt 3 has been underused and if so, what the reasons for that might be. Has it just been a ‘tick box exercise’?<div><blockquote>transparency project @seethrujustice: "Probably it is under used. There’s never been consistent policy on diverting suitable cases to ADR, NCDR etc"</blockquote><blockquote>Nadia Tawfik @nadiatawfik: "I would say so. Even the introduction of the MIAM has just become a tickbox exercise in the majority of cases I see. I think there is an embedded culture of believing that Court is the only way of resolving disputes."</blockquote></div><blockquote>Clare Williams @ClareWPSL: "I remember when the "new" rules came in thinking this was a real revolution but like you say it just became a tick box exercise, like the statement of reconciliation but a little bit more bother."</blockquote><h4>Is the addition of the new Form FM5 (statement of position on non-court dispute resolution) a positive development?</h4>The second question considered the new Form FM5 and whether this is a welcome development. Some were critical of the length of the urn:uuid:22257de4-bfd1-4709-93b3-83cdc3b88a3b/blog/research-legal-analysis/report-on-istanbul-arbitration-days-2024Research & legal analysisReport on Istanbul Arbitration Days 2024The inaugural Istanbul Arbitration Days organised by Istanbul Arbitration Centre (ISTAC), held from April 17th to April 20th, 2024, garnered significant attention with participants hailing from diverse jurisdictions. Speakers representing different jurisdictions and a wide array of events catered to the 500+ registered participants. The historic Pera Palace Hotel hosted the Istanbul Arbitration Days’ opening reception on April 17. The inaugural Istanbul Arbitration Days organised by Istanbul Arbitration Centre (ISTAC), held from April 17th to April 20th, 2024, garnered significant attention with participants hailing from diverse jurisdictions. Speakers representing different jurisdictions and a wide array of events catered to the 500+ registered participants. The historic Pera Palace Hotel hosted the Istanbul Arbitration Days’ opening reception on April 17.Wed, 24 Apr 2024 13:28:14 Zurn:uuid:3ab3e654-9fab-4292-adc3-6b6fadb8457c/blog/research-legal-analysis/china-xmac-maritime-dispute-arbitration-rules-a-major-step-to-align-with-international-practiceResearch & legal analysisChina XMAC Maritime Dispute Arbitration Rules-a major step to align with international practiceOn 01 May 2024, the inaugural version of Maritime Dispute Arbitration Rules (MDAR Rules) promulgated by a Chinese leading arbitration institution, the Xiamen Arbitration Commission (XMAC) locates in Xiamen City, Fujian Province, P. R. China, will officially come effective. Unless the parties agree otherwise, the MDAR Rules, as an independent but also supplementary rules with the Arbitration Rules of Xiamen Arbitration Commission (XMAC 2020 Rules) would apply to the arbitration cases pertaining to the maritime disputes commenced on or after this date.Fri, 19 Apr 2024 10:57:21 Zurn:uuid:06b49156-c3ae-4622-abd4-ff5cccb2fa55/blog/research-legal-analysis/the-online-procedure-rule-committee-the-digital-justice-systemResearch & legal analysisThe Online Procedure Rule Committee and the Digital Justice SystemWed, 27 Mar 2024 11:54:23 Zurn:uuid:2aa47c73-37de-447c-b58a-646d6c75ec27/blog/research-legal-analysis/international-arbitration-in-south-africaResearch & legal analysisInternational Arbitration in South AfricaInternational arbitration in South Africa has experienced a surge in recent years, especially after the introduction of the International Arbitration Act (IAA) in 2017, making South Africa a real ‘regional arbitration hub with considerable success.’ South Africa now has a modern and favourable legal framework encouraging arbitration as a process in the region. The IAA, in fact, has significant features that make South Africa an arbitration-friendly jurisdiction.Tue, 05 Mar 2024 14:03:50 ZBy <a href="https://www.acerislaw.com/arbitration-lawyers/" data-sf-ec-immutable="">Alexandra Koliakou, William Kirtley,</a> Aceris Law LLCInternational arbitration in South Africa has experienced a surge in recent years, especially after the introduction of the International Arbitration Act (IAA) in 2017, making South Africa a real ‘regional arbitration hub with considerable success.’<a href="https://reedelsevier-my.sharepoint.com/personal/reganr_legal_regn_net/Documents/Documents/Blog/International%20Arbitration%20in%20South%20Africa%20nh.docx#_ftn1" name="_ftnref1" title="" data-sf-ec-immutable="">[1]</a>Historically, arbitration in South Africa was governed by the Arbitration Act 42 of 1965, which primarily dealt with domestic arbitration. The need for a modern and comprehensive framework that catered to international commercial arbitration led to the enactment of the IAA. The IAA incorporates the UNCITRAL Model Law<a href="https://reedelsevier-my.sharepoint.com/personal/reganr_legal_regn_net/Documents/Documents/Blog/International%20Arbitration%20in%20South%20Africa%20nh.docx#_ftn2" name="_ftnref2" title="" data-sf-ec-immutable="">[2]</a> and the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, thus giving effect to South Africa’s obligations under it.<a href="https://reedelsevier-my.sharepoint.com/personal/reganr_legal_regn_net/Documents/Documents/Blog/International%20Arbitration%20in%20South%20Africa%20nh.docx#_ftn3" name="_ftnref3" title="" data-sf-ec-immutable="">[3]</a>Accordingly, South Africa now has a modern and favourable legal framework encouraging arbitration as a process in the region. The IAA, in fact, has significant features that make South Africa an arbitration-friendly jurisdiction.<a href="https://reedelsevier-my.sharepoint.com/personal/reganr_legal_regn_net/Documents/Documents/Blog/International%20Arbitration%20in%20South%20Africa%20nh.docx#_ftn4" name="_ftnref4" title="" data-sf-ec-immutable="">[4]</a>Arbitral Institutions in South AfricaA number of arbitral institutions administrating arbitration proceedings in South Africa have been established. The Arbitration Foundation of Southern Africa (AFSA), including the Arbitration Foundation of South Africa International (AFSA International), manages all types of dispute resolution, particularly arbitration. AFSA administers numerous local business disputes and has handled a wide range of international arbitration disputes since 2017. Its head office is in Sandton, Johannesburg, but it also has regional offices in Pretoria, Cape Town and Durban.<a href="https://reedelsevier-my.sharepoint.com/personal/reganr_legal_regn_net/Documents/Documents/Blog/International%20Arbitration%20in%20South%20Africa%20nh.docx#_ftn5" name="_ftnref5" title="" data-sf-ec-immutable="">[5]</a>The China-Africa Joint Arbitration Centre (CAJAC Johannesburg) is a subsidiary of AFSA. CAJAC was established in answer to the increasing trade between China and Africa. The CAJAC offers disputing parties internationally-based rules, tailor-made for China-Africa disputes.<a href="https://reedelsevier-my.sharepoint.com/personal/reganr_legal_regn_net/Documents/Documents/Blog/International%20Arbitration%20in%20South%20Africa%20nh.docx#_ftn6" name="_ftnref6" title="" data-sf-ec-immutable="">[6]</a>ArbitrabilityPursuant to Section 7 of the IAA, the parties are free to resort to arbitration for any international commercial dispute which relates to a matter that the parties are entitled to dispose of by way of arbitration.<a href="https://reedelsevier-my.sharepoint.com/personal/reganr_legal_regn_net/Documents/Documents/Blog/International%20Arbitration%20in%20South%20Africa%20nh.docx#_ftn7" name="_ftnref7" title="" data-sf-ec-immutable="">[7]</a>International arbitration urn:uuid:44caf381-6689-4ae6-b38d-825ba409a2b7/blog/research-legal-analysis/harnessing-arbitration-for-resolving-commercial-space-disputesResearch & legal analysisHarnessing Arbitration for Resolving Commercial Space DisputesArbitration is ideal for adjudicating space related disputes because it is speedy, efficient, neutral, final, and enforceable. However, to be an effective structure for adjudicating various disputes arising out of commercial space activity precedent has to become the benchmark of arbitral system(s), in tandem with an internal system that protects trade secrets and intellectual property.Fri, 02 Feb 2024 14:11:25 Zurn:uuid:db73745f-be99-4b11-b0e7-1b72c1c64d24/blog/research-legal-analysis/indian-supreme-court-issues-landmark-judgment-on-the-application-of-the-group-of-companies-doctrineResearch & legal analysisIndian Supreme Court issues landmark judgment on the application of the ‘Group of Companies’ doctrineOn 6 December 2023, the Supreme Court of India in the matter of Cox & Kings v SAP, clarified the application of the ‘Group of Companies’ doctrine in the Indian context and affirmed that a non-signatory company within a group of companies can be bound by an arbitration agreement if certain conditions are satisfied.Tue, 30 Jan 2024 12:26:36 Zurn:uuid:7affd502-f190-491b-9b35-5c62c0ca1b7f/blog/research-legal-analysis/background-to-pinqdr-new-online-arbitration-serviceResearch & legal analysisBackground to pinqDR - new online arbitration serviceWed, 17 Jan 2024 17:24:42 Zurn:uuid:2d07dd93-0961-4a7d-a2ed-2141dc3d27d6/blog/research-legal-analysis/international-practitioners-assessing-value-for-deals-disputes-take-note-proposed-updates-to-the-international-valuation-standards-ivs-to-include-requirements-to-consider-esg-factors-when-conducting-valuations-from-2024Research & legal analysisINTERNATIONAL PRACTITIONERS ASSESSING VALUE FOR DEALS AND DISPUTES TAKE NOTE - PROPOSED UPDATES TO THE INTERNATIONAL VALUATION STANDARDS (IVS) TO INCLUDE REQUIREMENTS TO CONSIDER ESG FACTORS WHEN CONDUCTING VALUATIONS FROM 2024By Sophie Munson (HKA) *and Colin Johnson (HKA)*The International Valuation Standards Council (IVSC) is an independent, non-profit organisation which establishes and promotes global valuation standards to serve public interest.[1] The IVSC sets the International Valuation Standards (IVS) which guide valuation professionals globally to promote consistency and confidence in valuations.[2] The IVS are adopted voluntarily, however are used in more than 100 countries worldwide.[3] The IVS are comprised of:[4]General Standards, which set requirements for all valuation assignments, andAsset Standards, which set requirements for the valuation of specific types of assets, and are to be used in conjunction with the General Standards.The IVSC has recently proposed updates to the IVS, including updates aimed at addressing factors now considered to have a potentially important and growing impact on valuations. These include proposed requirements to explicitly consider environmental, social, and governance (ESG) factors within the valuation process.[5]These proposed updates were published in April 2023 in a draft version of the IVS denoted as an Exposure Draft For Consultation (2023 Exposure Draft). This 2023 Exposure Draft was subject to a 3-month public consultation period closing on 28 July 2023 during which feedback was sought from a range of stakeholders involved in either preparing, reviewing, or relying on valuations.[6] Subject to consultation responses, the next edition of the IVS is due to be published in January 2024 and become effective in July 2024.[7] The edition of the IVS which is effective currently has been effective from 31 January 2022 (January 2022 IVS).[8]At the time of writing, the latest publication is the 2023 Exposure Draft which proposes a number of updates to the IVS to include specific requirements to consider ESG factors when performing valuations. These updates have been made to both:the General Standards, and therefore apply toWed, 13 Dec 2023 16:12:44 ZBy <a href="https://www.linkedin.com/in/sophiemunson/" data-sf-ec-immutable="">Sophie Munson (HKA)</a> *and <a href="https://www.hka.com/expert-post/colin-johnson/" data-sf-ec-immutable="">Colin Johnson (HKA)</a>*The International Valuation Standards Council (IVSC) is an independent, non-profit organisation which establishes and promotes global valuation standards to serve public interest.<a href="https://reedelsevier-my.sharepoint.com/personal/reganr_legal_regn_net/Documents/Documents/Blog/HKA%20Article%20-%20Proposed%20updates%20to%20the%20IVS%20to%20include%20requirements%20to%20consider%20ESG%20factors%20when%20conducting%20valuations%20v2%20RR%20amends.docx#_ftn1" name="_ftnref1" title="" data-sf-ec-immutable="">[1]</a> The IVSC sets the International Valuation Standards (IVS) which guide valuation professionals globally to promote consistency and confidence in valuations.<a href="https://reedelsevier-my.sharepoint.com/personal/reganr_legal_regn_net/Documents/Documents/Blog/HKA%20Article%20-%20Proposed%20updates%20to%20the%20IVS%20to%20include%20requirements%20to%20consider%20ESG%20factors%20when%20conducting%20valuations%20v2%20RR%20amends.docx#_ftn2" name="_ftnref2" title="" data-sf-ec-immutable="">[2]</a> The IVS are adopted voluntarily, however are used in more than 100 countries worldwide.<a href="https://reedelsevier-my.sharepoint.com/personal/reganr_legal_regn_net/Documents/Documents/Blog/HKA%20Article%20-%20Proposed%20updates%20to%20the%20IVS%20to%20include%20requirements%20to%20consider%20ESG%20factors%20when%20conducting%20valuations%20v2%20RR%20amends.docx#_ftn3" name="_ftnref3" title="" data-sf-ec-immutable="">[3]</a>  The IVS are comprised of:<a href="https://reedelsevier-my.sharepoint.com/personal/reganr_legal_regn_net/Documents/Documents/Blog/HKA%20Article%20-%20Proposed%20updates%20to%20the%20IVS%20to%20include%20requirements%20to%20consider%20ESG%20factors%20when%20conducting%20valuations%20v2%20RR%20amends.docx#_ftn4" name="_ftnref4" title="" data-sf-ec-immutable="">[4]</a><ol><li>General Standards, which set requirements for all valuation assignments, and</li><li>Asset Standards, which set requirements for the valuation of specific types of assets, and are to be used in conjunction with the General Standards.</li></ol>The IVSC has recently proposed updates to the IVS, including updates aimed at addressing factors now considered to have a potentially important and growing impact on valuations. These include proposed requirements to explicitly consider environmental, social, and governance (ESG) factors within the valuation process.<a href="https://reedelsevier-my.sharepoint.com/personal/reganr_legal_regn_net/Documents/Documents/Blog/HKA%20Article%20-%20Proposed%20updates%20to%20the%20IVS%20to%20include%20requirements%20to%20consider%20ESG%20factors%20when%20conducting%20valuations%20v2%20RR%20amends.docx#_ftn5" name="_ftnref5" title="" data-sf-ec-immutable="">[5]</a>These proposed updates were published in April 2023 in a draft version of the IVS denoted as an Exposure Draft For Consultation (2023 Exposure Draft). This 2023 Exposure Draft was subject to a 3-month public consultation period closing on 28 July 2023 during which feedback was sought from a range of stakeholders involved in either preparing, reviewing, or relying on valuations.<a href="https://reedelsevier-my.sharepoint.com/personal/reganr_legal_regn_net/Documents/Documents/Blog/HKA%20Article%20-%20Proposed%20updates%20to%20the%20IVS%20to%20include%20requirements%20to%20consider%20ESG%20factors%20when%20conducting%20valuations%20v2%20RR%20amends.docx#_ftn6" name="_ftnref6" title="" data-sf-ec-immutable="">[6]</a> Subject to consultation responses, the next edition of the IVS is due to be published in January 2024 and become effective in July 2024.<a href="https://reedelsevier-my.sharepoint.com/personal/reganr_legal_regn_net/Documents/Documents/Blog/HKA%20Article%20-%20Proposed%20updates%20to%20the%20IVS%20to%20include%20requirements%20to%20consider%20ESG%20factors%20when%20conducting%20valuations%20v2%20RR%20amends.docx#_ftn7" name="_ftnref7" title="" data-sf-ec-immutable="">[7]</a> The edition of the IVS which is effective currently has been effective from 31 January 2022 (January 2022 IVS).<a href="https://reedelsevier-my.sharepoint.com/personal/reganr_legal_regn_net/Documents/Documents/Blog/HKA%20Article%20-%20Proposed%20updates%20to%20the%20IVS%20to%20include%20requirements%20to%20consider%20ESG%20factors%20when%20conducting%20valuations%20v2%20RR%20amends.docx#_ftn8" name="_ftnref8" title="" data-sf-ec-immutable="">[8]</a>At the time of writing, the latest publication is the 2023 Exposure Draft which proposes a number of updates to the IVS to include specific requirements to consider ESG factors when performing valuations. These updates have been made to both:<ol><li>the General Standards, and therefore apply to </li></ol>urn:uuid:79e680f2-5866-4e57-81da-8f8bf557c0fd/blog/research-legal-analysis/2023-bclp-annual-arbitration-survey-on-ai-in-ia-resultsResearch & legal analysis2023 BCLP Annual Arbitration Survey on AI in IA ResultsWed, 29 Nov 2023 14:13:17 Zurn:uuid:7c09f0fe-2098-42b7-9ba6-0fe739ead3ae/blog/research-legal-analysis/arbitration-statistics-2022-ad-hoc-strengthens-as-institutions-recedeResearch & legal analysisArbitration statistics 2022: ad hoc strengthens as institutions recedeIn our sixth annual survey of international arbitration statistics, James Clanchy, arbitrator in independent practice and member of the ��˾��ҹ�� Arbitration Consulting Editorial Board, notes that major institutions have seen declines in their caseloads while ad hoc arbitration is rising. He examines the attractions of ad hoc and considers lessons that could be learned by institutions and the wider international arbitration community. A decline in transparencyAs the international arbitration community absorbs the aftershocks of Mr Justice Knowles’ searing decision setting aside the award in Nigeria v P&ID [2023] EWHC 2638 (Comm), it is more important than ever that we should have reliable statistical data with which to defend and explain arbitration to others.Johnny Veeder QC made a call for such data in his Chartered Institute of Arbitrators (CIArb) Alexander Lecture, ‘What Matters – about Arbitration’, in 2015. He was concerned by growing discontent with investor-state arbitration and by arbitration’s ‘over-ambitious promoters.’ He memorably said, ‘arbitration cannot do everything.’ The demise of arbitration was ‘far from inevitable’ but it had to answer its critics and, for that purpose, comprehensive and user-based statistics were essential.It is disappointing therefore that the International Chamber of Commerce (ICC), for the second year running, has not published a detailed report on its caseload data. However, it has kindly responded to enquiries from ��˾��ҹ�� Arbitration, which has allowed us to complete the graphs below. These graphs contain respectively the numbers of new cases registered and numbers of appointments of arbitrators (including institutional confirmations of party appointments) for the five international arbitral institutions which the White & Case Queen Mary International Arbitration Survey 2018 found to be its respondents’ favourites with the addition of one association of arbitrators whose members conduct ad hoc arbitrations under its rules, the London Maritime Arbitrators Association (LMAA).The ICC’s 710 new cases is its lowest total since 2008. This represents aWed, 01 Nov 2023 16:36:55 ZIn our sixth annual survey of international arbitration statistics, James Clanchy, arbitrator in independent practice and member of the <a href="/legal/experts/887" data-sf-ec-immutable="" data-sf-marked="" target="_blank">��˾��ҹ�� Arbitration Consulting Editorial Board</a>, notes that major institutions have seen declines in their caseloads while ad hoc arbitration is rising. He examines the attractions of ad hoc and considers lessons that could be learned by institutions and the wider international arbitration community. A decline in transparencyAs the international arbitration community absorbs the aftershocks of Mr Justice Knowles’ searing decision setting aside the award in Nigeria v P&ID <a data-sf-ec-immutable=""></a><a href="https://plus.lexis.com/api/permalink/ca6c76c2-3da6-4d47-9d15-5985bdc14697/?context=1001073" target="_blank" data-sf-ec-immutable="">[2023] EWHC 2638 (Comm)</a>, it is more important than ever that we should have reliable statistical data with which to defend and explain arbitration to others.Johnny Veeder QC made a call for such data in his Chartered Institute of Arbitrators (CIArb) Alexander Lecture, ‘What Matters – about Arbitration’, in 2015. He was concerned by growing discontent with investor-state arbitration and by arbitration’s ‘over-ambitious promoters.’  He memorably said, ‘arbitration cannot do everything.’ The demise of arbitration was ‘far from inevitable’ but it had to answer its critics and, for that purpose, comprehensive and user-based statistics were essential.It is disappointing therefore that the International Chamber of Commerce (ICC), for the second year running, has not published a detailed report on its caseload data. However, it has kindly responded to enquiries from ��˾��ҹ�� Arbitration, which has allowed us to complete the graphs below. These graphs contain respectively the numbers of new cases registered and numbers of appointments of arbitrators (including institutional confirmations of party appointments) for the five international arbitral institutions which the White & Case Queen Mary International Arbitration Survey 2018 found to be its respondents’ favourites with the addition of one association of arbitrators whose members conduct ad hoc arbitrations under its rules, the London Maritime Arbitrators Association (LMAA).The ICC’s 710 new cases is its lowest total since 2008. This represents a urn:uuid:a919219d-edc7-494a-a440-62331d16a442/blog/future-of-law/the-case-for-generative-ai-for-private-practice-lawyersFuture of LawThe case for generative AI for private practice lawyersA recent ��˾��ҹ�� report explored the role of generative AI in the legal sector. We look at why private practice lawyers are overcoming reluctance around generative AI and how to use the techMon, 18 Sep 2023 11:26:21 ZA recent ��˾��ҹ�� report explored the role of generative AI in the legal sector. We look at why private practice lawyers are overcoming reluctance around generative AI and how to use the tech The recent ��˾��ҹ�� report, <a href="https://preview.shorthand.com/QopG90rrOCk8WIe4" data-sf-ec-immutable="">Generative AI and the future of the legal profession</a>, aimed to understand awareness of generative artificial intelligence (AI) in the legal sector, with a section specifically exploring the ways in which private practice lawyers can apply generative AI.Private practice lawyers are using generative AI, but less than in-house lawyers, with just over a third (36%) using the tech. Private practice lawyers at small firms use it least of all. Indeed, the <a href="https://preview.shorthand.com/QopG90rrOCk8WIe4" data-sf-ec-immutable="">��˾��ҹ�� report</a> broadly suggests the larger the organisation, the more likely they are to employ generative AI.None of that is particularly surprising. Private practice is typically more risk-averse and more conservative in its approach to tech. But many private practice lawyers have started to use generative AI in thoughtful and innovative ways, and many have already noticed the <a href="https://www.techtarget.com/searchenterpriseai/tip/7-top-generative-AI-benefits-for-business" data-sf-ec-immutable="">substantial benefits</a> it brings.In this article, we want to explore how private practice lawyers are using generative AI to improve their comms, support user research, train staff, manage risk, and so much more.  <h4>How private practice lawyers use generative AI</h4>Private practice lawyers who fail to take advantage of AI will struggle in the marketplace. There are so many incredible uses for AI in private practice and we’ll explore the best below, giving you a sense of how private practice lawyers might employ generative AI in the present and the future. <h5>To boost productivity</h5>Most people have been using generative AI to complete small-scale and non-legal tasks. Private practice lawyers are mainly using text-based generative AI <a href="[f669d9a7-009d-4d83-ddaa-000000000002]DAB99E6B-08FF-4788-AE71-6B01D9199FDD/chatgpt-user-beware">platforms such as ChatGPT</a>. As referenced in the ��˾��ҹ�� report, the main uses for generative AI at present are early research (66%), briefing memos and documents (59%), and perform document analysis (47%).Private practice lawyers are using generative AI largely in a non-legal way, similar to its use across the wider economy. In short, most lawyers are using AI to quickly and easily boost productivity. Many of the below tasks, for example, can be quickly improved, optimised, or automated using generative AI:<ul><li>Producing memos, briefs, e-mails, documents, <a href="https://www.forbes.com/sites/forbescommunicationscouncil/2023/06/02/demystifying-generative-ai-for-communicators/" data-sf-ec-immutable="">and other comms</a></li><li><a href="https://hbr.org/2022/11/how-generative-ai-is-changing-creative-work" data-sf-ec-immutable="">Producing content</a> – images, writt</li></ul>urn:uuid:16e33396-f8b4-40dd-95ec-6a23d700a34c/blog/future-of-law/how-will-generative-ai-shift-the-future-of-lawFuture of LawHow will generative AI shift the future of law?We explore how lawyers are benefitting from the application of generative AI at present and discover the ways in which generative AI may transform the legal sector in the future.Mon, 11 Sep 2023 12:26:38 ZWe explore how lawyers are benefitting from the application of generative AI at present and discover the ways in which generative AI may transform the legal sector in the future. The recent ��˾��ҹ�� report, <a href="https://preview.shorthand.com/QopG90rrOCk8WIe4" data-sf-ec-immutable="">Generative AI and the future of the legal profession</a>, aimed to understand awareness of <a href="[f669d9a7-009d-4d83-ddaa-000000000002]DAB99E6B-08FF-4788-AE71-6B01D9199FDD/ai-use-risks-ethics-in-annual-reporting">generative artificial intelligence</a> (AI) in the legal sector, how the sector is using generative AI tools, and how the sector might use the tools in the future. The report demonstrated, among other things, that the majority of respondents (87%) were aware of AI and almost all of those respondents (95%) felt AI would have a notable impact on the legal sector. A clear consensus exists: AI will play a significant role in the <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E">future of law</a>. That much seems self-evident, but perhaps less appreciated is the <a href="https://www.economist.com/business/2023/06/06/generative-ai-could-radically-alter-the-practice-of-law" data-sf-ec-immutable="">current role that AI and generative AI</a> plays in the sector. In this article, we look at the present and the future of AI. We explore the impact AI has already had on the legal sector and examine the ways in which AI might transform the sector in the future. <h4>The current role of generative AI</h4><a href="https://www.forbes.com/sites/bernardmarr/2019/12/16/the-10-best-examples-of-how-ai-is-already-used-in-our-everyday-life/" data-sf-ec-immutable="">AI is everywhere</a>. Much of our daily life is made better by the use of AI. Consider, for example, that Google Maps uses AI to provide directions, that algorithmic AI dictates your next song choice or TV episode, that AI even guides you into purchasing decisions. Opening your phone relies on AI for facial recognition and all your social feeds rely on AI, too. Much of work life depends on AI: <a href="https://www.enisa.europa.eu/publications/artificial-intelligence-and-cybersecurity-research" data-sf-ec-immutable="">anti-virus software</a> for our computers, email spam filters, <a href="[f669d9a7-009d-4d83-ddaa-000000000002]7B419546-9BE7-4547-B040-49D402C6565E/the-ultimate-guide-to-conducting-legal-research">legal research software</a>, automated responders and customer services, invoice automation, contract analysis, internal comms systems, and so on.<a href="/legal/precedents/policy-use-of-generative-artificial-intelligence" data-sf-ec-immutable="">Policy—use of generative artificial intelligence</a>But the conversation in recent months has shifted towards a particular type of AI, namely generative AI. Generative AI depends on huge data sets, complex algorithms, and advanced machine learning to produce responses to prompts. Generative AI platforms generate text (<a href="https://openai.com/blog/chatgpt" data-sf-ec-immutable="">ChatGPT</a>, <a href="https://www.jasper.ai/" data-sf-ec-immutable="">Jasper</a>, etc), images (<a href="https://deepai.org/" data-sf-ec-i href="https://deepai.org/"></a href="https://deepai.org/" data-sf-ec-i>urn:uuid:d9d9603c-652a-433f-9668-1048b70c252f/blog/future-of-law/trends-in-uk-financial-services-enforcementFuture of LawTrends in UK Financial Services EnforcementThe latest UK Financial Services Enforcement Trend Report provides a summary of key trends in UK financial services enforcement as of May 2023.Mon, 19 Jun 2023 13:56:50 ZThe latest UK Financial Services Enforcement Trend Report provides a summary of key trends in UK financial services enforcement as of May 2023. Don’t miss out on critical information on the following topics: <ul><li>Impact of the changes in leadership of the FCA’s Enforcement and Market Oversight division </li><li>FCA’s enforcement priorities going forward, such as financial crime and the new Consumer Duty </li><li>Whether lack of enforcement actions around the Senior Managers & Certification Regime is indicative of an ineffective regime or a fundamental shift in cult</li></ul>urn:uuid:3fbf9b58-681d-4340-ace0-87e8346fc5ba/blog/future-of-law/new-frontiers-of-business-ethics-corporate-accountability-views-from-lidw22Future of LawNew frontiers of business ethics and corporate accountability—views from LIDW22What are the current global trends in business ethics and corporate accountability? Speakers answered this and provided practical examples of how to ensure corporate accountability and avoid reputational damage.Fri, 13 May 2022 10:33:00 Zurn:uuid:5d5cc031-f818-4e5a-9a92-d01aacc16bad/blog/future-of-law/lidw22-offshore-interim-relief-in-international-fraud-asset-chasesFuture of LawOffshore interim relief in international fraud and asset chases—a view from LIDW22Practitioners discussed recent developments in offshore jurisdictions and how they work in parallel with those in English courts. The speakers gave a run-down of key cases and legislation in the area, while providing guidance for practitioners and querying how the law in this area will change.Fri, 13 May 2022 10:30:14 Zurn:uuid:9935f6ba-005e-4794-ba3d-4265d4724a2e/blog/future-of-law/risk-compliance-weekly-highlights-20th-december-2021Future of LawRisk & Compliance weekly highlights – 20th December 2021In this issue: Risk & Compliance forecast, AML and counter-terrorist financing, Sanctions, Financial crime prevention, Data protection, Cybercrime, Trackers, LexTalk®Risk & Compliance: a Lexis®PSL community and Virtual networking and forum eventsFri, 17 Dec 2021 16:32:55 ZRisk & Compliance forecastAML and counter-terrorist financingSanctionsFinancial crime preventionData protectionCybercrimeTrackersLexTalk®Risk & Compliance: a Lexis®PSL communityVirtual networking and forum events<hr><h4>Risk & Compliance forecast<o:p></o:p></h4>Our new Risk & Compliance forecast (as at 14 December 2021) is now live. This month, we report on (1) changes to the UK Sanctions List; (2) updated requirements for the Cyber Essentials scheme; (3) changes to the Surveillance camera code of practice and (4) new draft guidelines from the EDPB on the territorial scope of the EU GDPR and international transfers. You can rest assured we’re tracking forthcoming regulatory changes so you can plan ahead.See Practice Note: <a data-sf-ec-immutable="" href="/legal/guidance/risk-compliance-forecast-as-at-14-december-2021">Risk & Compliance forecast as at 14 December 2021</a>.<hr><h4>AML and counter-terrorist financing</h4><h5>NatWest fined £264m over AML oversight failings</h5>Law360, London: A London judge fined NatWest £264m (US$350m) on 13 December 2021 after the bank became the first lender to plead guilty to criminal charges for violating the Money Laundering Regulations 2007 (MLR 2007), <a data-sf-ec-immutable="" href="https://www.lexisnexis.com/uk/lexispsl/riskandcompliance/citationlinkHandler.faces?bct=A&service=citation&risb=&UK_LEG&$num!%252007_2157s_Title%25">SI 2007/2157</a> in connection with a gold dealership. In addition to the fine, NatWest was sentenced to a confiscation order of £460k, payment of the FCA’s costs amounting to over £4m. The penalty figure included a 15% uplift to reflect additional punishment and deterrence, and a 1/3 reduction to reflect NatWest’s early guilty pleas.See News Analysis: <a data-sf-ec-immutable="" href="https://www.lexisnexis.com/uk/lexispsl/riskandcompliance/linkHandler.faces?/&dpsi=0S4D&remotekey1=DOC-ID&remotekey2=0S4D_4275823&service=DOC-ID&origdpsi=0S4D">NatWest fined £264m over AML oversight failings</a>.The Financial Conduct Authority (FCA) has commented on the sentencing and published the Agreed Statement of Facts between the FCA and NatWest on which NatWest’s guilty pleas were offered, in addition to the sentencing remarks of Mrs Justice Cockerill, which include an analysis of the penalty imposed.See: <a data-sf-ec-immutable="" href="https://www.lexisnexis.com/uk/lexispsl/riskandcompliance/citationlinkHandler.faces?bct=A&service=citation&risb=&LNBNEWS&$sel1!%252021%25$day!%2514%25$month!%2512%25$year!%252021%25$page!%253%25">LNB News 14/12/2021 3</a>.The FCA has also published a letter, dated 13 December 2021, to the Treasury Select Committee in connection with the prosecution. The letter sets out, among other things, the FCA’s rationale for pursuing a criminal prosecution in this case, rather than a civil or regulatory outcome.See: <a data-sf-ec-immutable="" href="https://www.lexisnexis.com/uk/lexispsl/riskandcompliance/citationlinkHandler.faces?bct=A&service=citation&risb=&LNBNEWS&$sel1!%252021%25$day!%2515%25$month!%2512%25$year!%252021%25$page!%25109%25">LNB News 15/12/2021 109</a>.<div align="center"><hr></div><h5>Transparency </h5>urn:uuid:98481fbb-dc93-4139-baef-cf1273062cda/blog/dispute-resolution/tomlin-orders-when-how-should-they-be-used-in-personal-injury-clinical-negligence-litigationDispute ResolutionTomlin orders: when and how should they be used in personal injury and clinical negligence litigation?There is, in general, no need to use a Tomlin order where all that is required is an order that one party shall pay money to another. However, one party may request that the terms of settlement be recorded in a Tomlin order rather than an ordinary consent order. This article reviews the reasons that may be suggested for using a Tomlin order, examines the validity of such reasons, sets out the advantages and disadvantages of such a procedural step and discusses the safeguards which should be employed if a Tomlin order is used.Read our legal precedent on Tomlin Orders here.After trial in which the claimant has been successful, there will be judgment for the claimant and an order for costs in the claimant’s favour. An ordinary consent order follows this format, is entitled 'Consent Order' and, in its simplest form could be as follows: 1. Judgment for the Claimant in the sum of £x [or 'The Defendant shall pay to the Claimant £x'] in full and final settlement of the claim, such sum to be paid to the Claimant’s solicitors by [14 days]. 2. The Defendant do pay the Claimant’s costs of the action to be subject to detailed assessment if not agreed. A Tomlin order is a form of consent order which avoids the entering of judgment. It takes its name from a Practice Note issued by Tomlin J in 1927 though it was in use well before that date. A Tomlin order is in two parts. The first part is the court order proper which stays the proceedings on agreed terms contained in the second part, the schedule. The schedule records the terms of settlement agreed between the parties and amounts to a binding contract. The contract set out in the second part cannot be directly enforced as an order of the court but requires an application to carry the terms into effect in the case of breach, ie failure to pay the agreed damages. In its simplest form in the personal injury/clinical negligence context it is headed 'TomlinFri, 16 Apr 2021 14:20:19 ZThere is, in general, no need to use a Tomlin order where all that is required is an order that one party shall pay money to another. However, one party may request that the terms of settlement be recorded in a Tomlin order rather than an ordinary consent order. This article reviews the reasons that may be suggested for using a Tomlin order, examines the validity of such reasons, sets out the advantages and disadvantages of such a procedural step and discusses the safeguards which should be employed if a Tomlin order is used.<a href="/legal/guidance/how-do-you-enforce-a-tomlin-order-do-you-need-to-apply-for-the-tomlin-order-to-be-made-a-judgment-first" target="_blank" data-sf-ec-immutable=""><a href="/legal/precedents/tomlin-order" target="_blank" data-sf-ec-immutable="">Read our legal precedent on Tomlin Orders here.</a></a>After trial in which the claimant has been successful, there will be judgment for the claimant and an order for costs in the claimant’s favour. An ordinary consent order follows this format, is entitled 'Consent Order' and, in its simplest form could be as follows: 1. Judgment for the Claimant in the sum of £x [or 'The Defendant shall pay to the Claimant £x'] in full and final settlement of the claim, such sum to be paid to the Claimant’s solicitors by [14 days]. 2. The Defendant do pay the Claimant’s costs of the action to be subject to detailed assessment if not agreed. A Tomlin order is a form of consent order which avoids the entering of judgment. It takes its name from a Practice Note issued by Tomlin J in 1927 though it was in use well before that date. A Tomlin order is in two parts. The first part is the court order proper which stays the proceedings on agreed terms contained in the second part, the schedule. The schedule records the terms of settlement agreed between the parties and amounts to a binding contract. The contract set out in the second part cannot be directly enforced as an order of the court but requires an application to carry the terms into effect in the case of breach, ie failure to pay the agreed damages. In its simplest form in the personal injury/clinical negligence context it is headed 'Tomlin urn:uuid:7a62550b-aad8-48c4-b674-da249a3c5adf/blog/dispute-resolution/brussels-i-reformDispute ResolutionBrussels I reformLast Friday, 10 October, saw EU Ministers finally ratify the Choice of Convention 2005. It will now come into force 3 months after that date ie 10 October 2015. For the press release on the ratification, see here. For practitioners dealing with international disputes involving the EU, this is an important moment as both the Convention and Brussels I (recast), which will apply from the same date, deal with Choice of Court Agreements. Note: For subscribers to LexisPSL assistance guidance is provided on both the Convention andTue, 14 Oct 2014 12:18:40 ZLast Friday, 10 October, saw EU Ministers finally ratify the Choice of Convention 2005. It will now come into force 3 months after that date ie 10 October 2015. For the press release on the ratification, see <a href="europa.eu/rapid/press-release_IP-14-1110_en.htm">here</a>. For practitioners dealing with international disputes involving the EU, this is an important moment as both the Convention and Brussels I (recast), which will apply from the same date, deal with Choice of Court Agreements. Note: For subscribers to LexisPSL assistance guidance is provided on both the <a href="http://www.lexisnexis.com/uk/lexispsl/disputeresolution/document/393750/55KX-HP91-F18B-81VK-00000-00/Convention%20on%20choice%20of%20court%20agreements%20" target="_blank">Convention</a> and <a href="http://www.lexisnexis.com/uk/lexispsl/disputeresolution/document/393750/5d0t-k0f1-f18b-84jj-00000-00/brussels%20i%20(recast)%e2%80%94choice%20of%20court%20agreements%20(art%202 href="/"></a href="http://www.lexisnexis.com/uk/lexispsl/disputeresolution/document/393750/5d0t-k0f1-f18b-84jj-00000-00/brussels%20i%20(recast)%e2%80%94choice%20of%20court%20agreements%20(art%202>