June 14,2019:
"The results of Emergency Arbitration's have not been very impressive, Emergency Arbitration should only be opted when National Courts fail to provide appropriate relief", stated Christopher Newmark (Spenser Underhill Newmark LLP) was the first emergency arbitrator to be appointed by the ICC under the Emergency Arbitrator Provisions introduced in the 2012 ICC Rules of Arbitration and has sat as sole arbitrator under the 2017 ICC expedited arbitration rules.The statement was made at an event hosted by Chartered Institute of Arbitrator's (CIArb) London Branch on the issue of "Has Emergency Arbitration come off age?" held on 12th June,2019.
Christopher Newmark further added that,"The decision passed by the Emergency Arbitrator is not an award, but an order, which can be reviewed later by the Arbitral Tribunal. The maximum cases are challenged on the capacity of the Arbitrators to make a order".
He further added that,"These days International Arbitration standard is becoming the norm, than standard applied by the National Courts, but still there level of divergence".
Newmark while putting forward some figures stated that,"Of 80 cases under ICC Arbitration Rules of appointment of Emergency Arbitrators, claimants in only 8 cases got what they demanded".
"The issue of claimants being unsuccessful in emergency arbitrations arises because they don't know what they are asking for", stated Ben Giaretta (Mishcon de Reya LLP) , he appears as counsel in international arbitration and often sits as arbitrator: He has been appointed as sole arbitrator, party nominated arbitrator, presiding arbitrator and emergency arbitrator, on many occasions.
He further added that," The Emergency Arbitration process is hectic both for the Emergency Arbitrator and the parties as well, because the Arbitrator has to give a decision in a very short period of time, after going through loads of documentation submitted by the parties".
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