INTRODUCTION Contributed by: Gary Born and Matteo Angelini, WilmerHale
stay proceedings after compelling arbitration. The Supreme Court held that court proceedings are automatically stayed, thereby protecting the benefits of arbitration as a more efficient and cheaper form of dispute resolution. In Yegiazaryan v Smagin, the Supreme Court ruled that RICO (the US racketeering law) is available as a mechanism to enforce foreign arbitral awards in the US. This adds a poten- tially powerful tool for the enforcement of arbitral awards in the United States: it gives judgment creditors another avenue to enforce against third parties involved in racketeering, and leaves open the possibility of obtaining treble damages and Despite attempts by newly formed courts to attract international business, arbitration remains the preferred form of dispute resolution for busi- nesses operating across borders. In the recent Queen Mary University of London International Arbitration Survey, 90% of respondents chose international arbitration – on its own or with other forms of ADR – as their preferred means of dis- pute resolution in international contracts. The cornerstone of international arbitration’s success is the New York Convention, ratified by 172 states, which celebrated its 66th anniversary in 2024. The Convention protects the enforce- ment of arbitration agreements and awards, ensuring – with rare exceptions – that arbitral awards can be enforced against award debtors. In its global reach and in its success, the New York Convention remains unparalleled in other forms of international dispute resolution. Use of technology in dispute resolution recovering legal costs. International arbitration It is now clear that the COVID-19 pandemic will have a lasting and profound effect on the man-
ner in which global litigation is conducted. The primary trend that emerged is the development and accelerated use of online platforms for the commencement and conduct of litigation. In the post-pandemic world, online or remote hearings have become increasingly common, and many jurisdictions have adopted detailed protocols for the conduct of online hearings that focus on ensuring procedural fairness, efficiency, confi- dentiality and security. Looking ahead to new challenges Two key new global challenges that pose signifi- cant litigation risk are the regulation of crypto- assets and environmental regulation. These are politically polarising issues, as the US presiden- tial election highlighted. Along with a rapidly evolving regulatory landscape, an increasing number of disputes relating to crypto-assets and blockchain technologies are giving rise to com- plex legal challenges posed by the novel nature of the assets themselves. Climate change- related litigation also poses novel legal issues, including concerning questions of justiciability and the role of human rights law and remedies in climate change litigation. A continued, expo- nential rise in litigation in both these areas is expected. Cybersecurity and data disputes also continue to increase, as cyber-attacks pose an increasing threat to businesses across the globe that hold sensitive commercial information. The shift to digital working and rapid advances in the use of artificial intelligence have increased this threat. According to a recent report published by QBE, the number of cyber-attacks taking place each year has more than doubled since 2020. This has generated a wave of cybersecurity-related litiga- tion, which is expected to continue into 2025.
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