Page 29 - Aequitas Europa

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Conclusion

Brexit and its impact on our economy offers a wide
breadth of uncertainties which are open to speculation
during these later stages of negotiation in Brussels.
Arbitration (however) appears very stable in comparison
to other areas of our economy which have already felt the
repercussions of our decision to leave the EU. Whilst
some of the practitioners whose comments we reviewed
appear pragmatic, the general outlook is rooted in
optimism due to the UK’s status as a contracting state to
the New York Convention. The post-Brexit landscape for
London-seated arbitrations in EU competition law does
remain unclear, and will be based upon our negotiations,
reforms and our future relationship with the EU.
Enforcement of arbitral awards shall continue unaffected
due to our status as a signatory state to the New York
Convention which also has quite a positive impact on
jurisdiction allocation, although some parties may still be
weary of assigning London to their arbitration clauses
whilst Brexit negotiations continue. Finally, Investor State
Dispute Settlements and the possibility of the UK opting
for an arbitration led model for resolving such matters
may be seen by many as an opportunity in the legal
services sector. Like many concerns relating to the post-
Brexit landscape, only time will tell what lies in wait for
our legal services economy following our departure from
the EU, but from what we’ve seen herein, the future in
this sector appears to be bright.

Student:

A.A.
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