WA gleans in-house arbitration snapshot

WA gleans in-house arbitration snapshot

07 May 2019 By Grace Ormsby
Perth City

A new report has provided some insight into the state of arbitration in Western Australia.

The survey into the state’s arbitration market, run by Francis Burt Chambers and FTI Consulting, has led to the creation of the WA Arbitration Initiative’s 2019 WA Arbitration Report.

The report found that 13 out of 14 in-house respondents, involved in the survey of Western Australian law firms, companies, arbitrators and barristers, were responsible for the drafting of arbitration clauses in contracts entered into by their companies in the 2017-18 financial year.

Six in-house counsel also indicated their involvement in arbitration proceedings over the same period.

Advertisement
Advertisement

Approximately 45 instances of arbitration proceedings were reported by those counsel on a whole, with some categorical overlap.

Of those in-house counsel interviewed, the combined annual turnover of respondent companies was in excess of $9 billion, with 91 West Australian lawyers accounted for in companies located across banking and finance, construction and engineering, mining and resources, oil and gas, retail and shipbuilding industries.

An estimate was also provided as to the billing of law firms in Western Australia on arbitration matters, with a 2017-18 figure placed conservatively at $85 million.

In a snapshot of companies more broadly, of the respondents which indicated the nature of their representation in arbitrations, more than half of the parties briefed external counsel, with two trends revealed by the report.

Firstly, the report noted that compared with lawyers undertaking arbitration, there is “a stronger tendency to use legal counsel from interstate”.

SPONSORED CONTENT

“Similarly, when disputes are international, there appears to be a propensity to use overseas external counsel,” the report continued.

Lawyers Weekly previously reported on Western Australia being considered as a ‘neutral’ and ‘world-class’ location for arbitration.  

 

WA gleans in-house arbitration snapshot
Intro image
lawyersweekly logo
The Women in Law Awards is the benchmark for excellence, recognising the empowering women influencing the Australian legal profession, celebrating the female leaders, role models and future champions of the industry. Register for the waitlist today for the opportunity to attend this remarkable awards ceremony and network with top legal professionals and fellow peers.
Visit womeninlaw.com.au