Legal Claims on the Rise
Companies from North America, Western Europe and Japan, facing slower growth in their domestic markets, are increasingly looking for outbound investments in Asia Pacific. Equally, companies from within the Asia Pacific region are venturing beyond their home markets to look for new opportunities. With transnational investments on the rise, a significant escalation in arbitration and therefore increased demand for specialised legal and financial expertise seems likely.
The factors contributing to the growth in arbitration in Asia Pacific include:
- Rising cross-border investments
- A desire to avoid overburdened local courts, particularly among foreign investors
- A desire to avoid the prevailing law in the jurisdictions to which the investment is directed
- The opportunity to tailor proceedings and governing law to suit the parties
This paper will highlight a few key circumstantial and economic indicators in certain Asia Pacific countries that we believe may serve as forward indicators for the future trend in disputes.