The LCIA is terminating its joint venture with the Government in Mauritius (the LCIA-MIAC Arbitration Centre), which will cease operations with effect from 27th July 2018. LCIA-MIAC was established in 2011, with a view to providing a similar service to the LCIA in London, focused on those doing business in Africa.
Transitional arrangements have been put in place for operational agreements referring to the LCIA-MIAC Rules. The LCIA will still administer proceedings arising out of agreements referring to the LCIA-MIAC Arbitration Centre that have already been concluded (or are concluded before 31st August 2018), but any arbitration agreements entered into after 31st August 2018 will be administered by a new, independent Mauritius International Arbitration Centre (which has also announced new rules, based on UNCITRAL).
Irrespective of the transitional provisions, the recommendation from the LCIA is that parties do not, as from 27 July 2018, conclude any LCIA-MIAC arbitration agreements. Instead, parties doing business in the region might look to institutional arbitration through one of the long-standing traditional institutions. Freeths’ experts in cross-border transactions and international arbitration can recommend suitable arrangements, tailored to your specific circumstances, to ensure that your contracts are enforceable through workable, cost effective and proportionate dispute resolution procedures.
The LCIA and the Government of Mauritius have mutually agreed to terminate the joint venture agreement which established the LCIA-MIAC Arbitration Centre in Mauritius, with effect from 27 July 2018