The International Chamber of Commerce court of arbitration in Paris has today released bullish new caseload figures which it says underscore its status as the world’s leading arbitral institution.
Some 801 ICC arbitration cases were filed last year, the second-highest number in the court’s 93-year history, with a record number of multi-party disputes accounting for over 30% of total new caseload. The aggregate value of all disputes pending before the ICC court at the end of 2015 stood at a record US$286bn.
Alexis Mourre, president of the ICC Court, said: 'In a fiercely competitive market, the ICC Court continues to enjoy strong growth throughout the world. Our 2015 results show that the ICC Court is increasingly seen as the go-to institution for complex and high-value disputes.’
Construction and engineering accounted for a quarter of new cases in 2015, with energy making up nearly 20%. Some 13% involved state or state-owned entities. The average value in dispute rose from $63m in 2014 to $84m.
Cases filed in 2015 involved parties from 133 countries and independent territories, with arbitrators of 77 nationalities assigned to ICC proceedings. Women accounted for just over 10% of arbitrators in new ICC cases – the first time the court has published gender diversity statistics.