Cases galore: Singapore International Arbitration Centre sees 60% spike in legal disputes

The country is becoming a dispute resolution hub.

There has been a global spike in legal disputes of late, and Singapore is the clearest beneficiary in the rising number of firms who turn to legal arbitration to settle disputes.

According to a report by full service law firm Pinsent Masons, the number of cases brought at the Singapore International Arbitration Centre (SIAC) have increased by over sixty per cent in just five years, showing that the country is fast becoming the go to location for the resolution of commercial disputes in Asia Pacific and the Indian sub-continent.

SIAC’s counterpart in Hong Kong, the Hong Kong International Arbitration Centre, has seen its case load decrease by almost thirty per cent since 2009 – although it too saw an increase in claims lodged during 2013 relative to the previous year.

According to Mohan Pillay, Joint-Head of Pinsent Masons, “International arbitration has become increasingly popular globally as businesses, wealthy families and states around the world seek to resolve disputes away from the glare of publicity, so a general increase in the SIAC case load is perhaps to be expected.”

“What is encouraging about these figures, however, is the extent to which Singapore is now rivalling some of the world’s major centres for dispute resolution. The growth rate is startling and demonstrate that the investment made in launching SIAC has been wholly justified.”