9 February 2021
In 2020, HKIAC received 318 arbitration filings which is the highest number received in over a decade. Of the 318 filings, 203 were arbitrations administered by HKIAC which represents an increase close to 20% in administered arbitrations from 2019.
The total amount in dispute was HK$68.8 billion (approximately US$8.8 billion) – a record high since HKIAC began to publish such information in 2011.
Arbitrations filed in 2020 continued to be predominantly international featuring parties from 45 jurisdictions. 72% of all arbitrations and 86% of administered arbitrations were international. The vast majority of the arbitrations were seated in Hong Kong. Disputes were subject to 12 different governing laws.
HKIAC saw greater diversity in its appointments of arbitrators in 2020. Of the 149 appointments made by HKIAC, 23% were of female arbitrators (20.5% in 2019) and 50% were of arbitrators not previously appointed by HKIAC over the last three years (40% in 2019).
Multiple applications were made for various procedural mechanisms in the 2018 HKIAC Administered Arbitration Rules (the “2018 Rules”) to streamline arbitral proceedings. In 2020, HKIAC received a record number of 14 emergency arbitrator applications, of which 11 were made in related arbitrations. For the first time, the newly introduced Early Determination Procedure was invoked in three cases, one of which proceeded and concluded by final award. Parties disclosed third-party funding arrangements in three cases under the new requirements of the 2018 Rules. HKIAC’s joinder, consolidation and single arbitration provisions were invoked multiple times to address disputes involving multiple parties and/or contracts. Such disputes represent 35% of the total arbitrations commenced in 2020.
HKIAC’s other services also proved to be popular in 2020. HKIAC’s legal staff received 18 tribunal secretary appointments, which is more than the number received in any preceding year since HKIAC introduced the tribunal secretary service in 2014. In 2020, HKIAC hosted 117 hearings, of which 80 were fully or partially virtual hearings (two of which were supported by HKIAC’s Shanghai office) and 37 were in-person hearings taking place at HKIAC’s premises in Hong Kong.
HKIAC’s full statistics for 2020 are published here.
For further information, please contact:
Kiran Sanghera, HKIAC
ksanghera@hkiac.org
