The 2018 ICC Arbitration Clause for Trust Disputes: Cutting the Gordian Knot of Trust Arbitration at Last?
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Over the last century, arbitration has established itself as one of the most popular means for resolving commercial disputes and has even penetrated fields of law traditionally reserved for the courts such as antitrust/competition law, company law and even tax law. One new area of law to which arbitration can advance is the arbitration of internal disputes regarding trusts and the prospect for growth in this area has resulted in a flurry of articles by both trust and arbitration practitioners as well as the release of rules and model clauses for such disputes.
The latest development in this field occurred on the first of November in Zurich when the ICC launched a new arbitration clause for trust disputes exactly ten years after its first clause on the subject was released in 2008. The aim of this post is to analyse some of the innovations and briefly consider whether it finally resolves some of the intractable problems posed by trust arbitration or whether it could have gone further.
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