House of Lords Backs Arbitration (October 17, 2007)
UK arbitration given boost by Lords ruling
London's reinvention as an arbitration centre will continue after the House of Lords backed the private method of settling disputes
London’s hopes of becoming the world’s pre-eminent centre for arbitration moved several steps forward today as the UK’s highest court officially embraced the alternative method of settling disputes.
In a closely watched case involving Russian shipping agreements, the House of Lords ruled that if two parties choose to include a clause in their initial contract specifying that any future disputes will be settled through arbitration, then one side should not be able to renege on this.
