The survey, Corporate Choices in International Arbitration, conducted by PwC and Queen Mary Law School , found companies – specifically those in the financial arena – are taking in dispute resolution lawyers in bid to slash fees paid to external law firms.
The report also found that 35 per cent of the polled counsels had reported a rise in the number of international disputes. When asked what method they would choose to resolve their disputes, twice as many opted for international arbitration than other forms such as litigation.
Vote of confidence
The specialist lawyers help greatly with preparation work and document production which is necessary to prepare for big litigation and arbitration cases, the report claims.
Gerry Lagerberg, PwC’s head of international arbitration, said that the trend was a ‘cost-control measure’ that also serves as a ‘real vote of confidence in [international arbitration] as these firms recognise the value in having arbitration specialists embedded more within their multinational businesses’.
Email your news and story ideas to: [email protected]
