Global arbitration overview

In the past two weeks, there have been notable developments in international arbitration, particularly concerning the International Chamber of Commerce (ICC) and the World Arbitration Organization (WAO). The ICC continues to be a leading institution in resolving global commercial and investment disputes. While specific new cases from the last fortnight are not publicly disclosed, the ICC's 2024 statistics reveal a significant caseload: 831 new arbitration cases were registered, involving 2,392 parties from 136 jurisdictions, with a total value of disputes amounting to US$354 billion . This underscores the ICC's pivotal role in facilitating international trade and investment.

The WAO, through initiatives like the World Arbitration Update (WAU), provides a platform for discussing key investment and international commercial issues. Although specific cases from the past two weeks are not detailed, WAU's focus on global and regional impacts highlights the dynamic nature of international arbitration . This forum connects practitioners, states, private parties, arbitrators, international organizations, academics, and students, fostering a comprehensive understanding of arbitration's evolving landscape.

In terms of landmark cases, the French Court of Cassation's annulment of a $15 billion arbitration ruling against Malaysia stands out. This decision, issued on November 7, 2024, reinforced Malaysia's sovereignty in a dispute with the self-proclaimed Sulu heirs and highlighted the importance of adhering to principles of good faith and utility in international arbitration agreements . Such cases illustrate the complexities and critical nature of arbitration in resolving international disputes.