A respected annual bellwether of litigation trends for solicitors suggests ‘there is no room for complacency’ in London amid intensifying competition from overseas jurisdictions.
That was the message delivered by Nicholas Heaton, president of the London Solicitors Litigation Association, to the organisation’s annual dinner last night. Heaton, head of competition litigation at international firm Hogan Lovells, delivered a preview of the recently completed LSLA annual survey of members on litigation trends.
’While the survey paints a largely positive picture, there is no room for complacency,’ Heaton told dozens of litigators gathered at the Law Society’s Hall. ’While 82% of respondents, reassuringly, have not seen any flight of litigation to other jurisdictions, only 54% thought that the London litigation market had grown in the last year. This is down, markedly, from 70% in last year’s survey. Sixty-one percent foresaw growth over the next 24 months. The areas most expected to grow [are] class actions, insolvency, environmental claims and supply chain.’
He added: ’Clearly the anticipated growth is partly a consequence of geopolitical and UK economic events, but the importance of having the right court procedure can be seen in the facilitation of class actions. Its importance can also be seen in the issues considered by clients when deciding whether to litigate. More than half of respondents cited costs as a key consideration in that regard.’
Heaton said this delivers a ’clear message’ for the current costs reform process. ‘[This] must work for international litigation as well as domestic cases,’ he said.
According to strategic communications consultancy Portland’s Commercial Courts Report 2022, London’s Commercial Court experienced a significant fall in activity between April 2021 and March 2022, with 20% fewer judgments and 34% fewer litigants than the previous year. This was attributed to ‘a combination of Brexit, Covid-19 and increased competition from other international courts’.
This article is now closed for comment.
1 Reader's comment