There's a lot of information out there about the potential impact of Brexit and sometimes it's hard to get to the insightful information. However, this survey indicates the challenge for the UK-based dispute resolution industry in a post-Brexit world. Clearly, if London does lose its place as the centre of choice for International Dispute Resolution this will not only impact commercial litigation but also arbitration and mediation. As good mediators, maybe its time to manage our own risk and get creative!
Around 35% of the businesses surveyed have changed dispute resolution clauses in their contracts in the past two years, with around half of those having chosen for disputes to be heard in EU courts, such as those in France or Germany, rather than in the UK. Of those businesses yet to alter their arrangements, two-fifths say they intend to review contracts if there is no significant progress in negotiations before March 2019 on the future regime that will apply after Brexit for the mutual recognition of court judgments.