ICC reveals record number of new Arbitration cases filed in 2016
The International Court of Arbitration of the International Chamber of Commerce (ICC) has announced record figures for new cases filed for administration under ICC rules in 2016.
According to preliminary statistics, a total of 966 new cases administered by the Court were filed in 2016 – involving 3,099 parties from 137 countries. Constituting a record year for the Court in its 94-year history, the figures reflect continuing growth of the world’s leading arbitral institution and its ongoing efforts to make ICC dispute resolution services more accessible worldwide.
– 966 new cases administered by the Court were filed in 2016 – involving 3,099 parties from 137 countries.
– 15% rise in parties from Latin America
– Record figures recorded for parties from Korea, Nigeria and Turkey
– Parties from South and East Asia up 22%
Alexis Mourre, President of the ICC Court said: “These initial findings are welcome testament to our efforts to continually adapt our services to the needs of arbitration users around the world. These efforts will continue in 2017 with plans to build further on our global presence in the year ahead.”
Growth in Latin America
Statistics for 2016 reveal a 15% increase in the number of parties from Latin America with Brazil climbing to third place in party rankings worldwide, in a year that saw 123 participating Brazilian parties.
With 105 parties, Mexico ranks for the first time among the top five countries worldwide listed according to the number of participating parties in ICC Arbitration, while Peru, with 28 parties, also saw an increase from the previous year.
Record numbers in Asia and Africa
Benefitting from a greater ICC presence established at the beginning of 2016, South and East Asia both saw an overall increase of 22% in the number of parties represented, with a record 82 parties from Korea.
Meanwhile, ICC Arbitration continues to build on its foothold in North and Sub-Saharan Africa with each region securing an approximate 50% increase in the number of participating parties. Despite increased competition in the market, Nigeria and Turkey both achieved new statistical records, accounting for 30 and 76 parties respectively.
Looking to the year ahead, ICC Arbitration statistics also reveal an increasingly busy period ahead with a record 1,592 pending cases – up by 61 cases compared with figures recorded at the close of business the previous year.
ICC is set to publish a full statistical report in the next edition of the Court Bulletin, providing further insight into ICC Arbitration and its users.