The LCIA Announces Adoption of New Arbitration Rules

On July 25, 2014, the London Court of International Arbitration (“LCIA”) released a revised set of its Arbitration Rules. The new Rules will apply to any LCIA arbitration commenced on or after October 1, 2014, unless the parties agree otherwise. The new Rules preserve all of the notable features of LCIA arbitration. At the same time, several significant changes have been made, including with respect to (1) the form of and law governing the arbitration agreement, (2) the conduct of the proceedings, and (3) the granting of interim relief prior to constitution of the arbitral tribunal.