International tensions also weigh on disputes
Arbitrations on the rise but favoured is the firm that closes disputes quickly also thanks to settlements prior to proceedings
by Valeria Uva
3' min read
3' min read
The numbers speak for themselves: arbitrations, both domestic and international, continue to grow. And they are attracting an increasing number of professionals who are looking closely at this specialisation within the Litigation department.
The Milan Chamber of Arbitration (Cam) has just published its latest statistics (updated to 2023): 138 applications were filed during the year (+5.3% compared to the previous year) for a total value of more than €545 million, a figure double that of 2022. In that year, the CAM published its new regulation strengthening the use of simplified arbitration (with a single arbitrator), with reduced costs, effectively widening access to private justice also to lower value disputes.
In addition to the fast verdict times (12 months on average for the Cam in Italy), the first effects of the Cartabia reform also play in favour of the increase: 'I believe it was important to have made full disclosure mandatory for arbitrators,' says Marco Torsello, partner and co-founder of the specialised boutique Arblit, 'now there is a guarantee of full transparency on all potential conflicts of interest. And the possibility, now also recognised for arbitrators, to take precautionary measures has also been influential'.
But behind the drive, at least in Italy, there are also market factors: 'The greater attention paid to this institution in recent years is also due to the increasingly numerous presence of foreign investors in our country,' adds Antonio Satalino, partner and head of Gatti Pavesi Bianchi Ludovici's Litigation and Arbitration department, 'who welcome the possibility of an active role in the choice of the body that will decide any disputes. Those devolved to arbitration are often, in fact, very complex issues, which require specialised, sometimes niche expertise, not only of the judge but also of technical advisors. "Being able to appoint an arbitrator also on the basis of his or her specialisation is important and helps to assume a predictability of the dispute," recalls Cecilia Carrara, partner at Legance, who, however, emphasises: "The arbitrator is never a party lawyer and must meet stringent requirements of impartiality and transparency. "There is no doubt that arbitrators have more resources at their disposal, also in terms of time, compared to ordinary judges to instruct disputes, appoint specialised Ctu's and thus to decide complex cases," adds Filippo Rossi, partner at PedersoliGattai, "but the stability of decisions also has its weight, given that arbitral awards are rarely appealable.
International arbitrations are also on the rise. Central remains the role of the ICC (International chamber of commerce), a global reference point for more than 100 years with its 25,000 cases handled: last year, the total number of pending disputes reached a record 354 billion dollars.
