Menu Close
TheCityUK Legal Services Report 2022

TheCityUK has published its 2022 report on the contribution made to the British economy by legal services, including dispute resolution for international parties. The report states, ‘The report underlines the UK’s world-leading status as a centre for international legal services and dispute resolution, with revenues generated by the sector up 12.5% year on year to £41bn in 2021/22.’

As in previous years, the LMAA features prominently in the table of UK providers’ caseload statistics for arbitration, adjudication and mediation. This year again, TheCityUK has included international comparisons, reproducing a graph compiled by LexisNexis UK, which compares the caseloads of six major international arbitral bodies. The LMAA comes top by a wide margin, having an annual caseload much larger than that of any of the institutions and, as the report says, ‘continues to lead the caseload statistics with 1,657 new cases in 2021 which comprises more than 43% of the total new arbitration cases in 2021 across all six bodies (3,798).’

The report notes, ‘LMAA arbitration remains the primary forum of choice for dispute resolution in the world of ships and shipping, and its reach extends across the maritime spectrum, encompassing not only shipping (for example, carriage of goods, shipbuilding and ship sale and purchase) but also international trade and offshore energy, including renewables. Together with the other providers of international arbitration in London, the LMAA assists London in maintaining its position as the leading centre worldwide for international arbitration, offering its services to the myriad parties who choose to have their disputes resolved in London.’

The report can be accessed HERE

 

Previous reports can be accessed by clicking the below links:

UK Legal Services 2021

UK Legal Services 2020

UK Legal Services 2019

UK Legal Services 2018

UK Legal Services 2017

UK Legal Services 2016

UK Legal Services 2015

UK Legal Services 2014