Queen Mary LLM Students participate in the 2025 ICC United Kingdom Annual Arbitration & ADR Conference

5 December 2025

The day opened with welcome remarks from Kieron O’Callaghan, Partner at Hogan Lovells, and Guy Pendell, Partner at CMS and Chair of the ICC UK Arbitration & ADR Committee. Both speakers greeted a room filled with leading practitioners and academics, emphasising the ICC’s enduring role as a prominent arbitral institution and London’s position as a preferred seat for international arbitration.

The keynote, delivered by The Rt Hon Lord Richard Hermer KC, considered the UK’s place within the international legal order in the context of shifting geopolitical dynamics. He underscored the strong respect for arbitration within the UK legal system, the centrality of the Rule of Law, the depth and calibre of the London legal market, and the reliability of the courts. These factors, he noted, continue to attract international arbitration to London and must be safeguarded in a rapidly changing global environment.

The morning continued with a panel moderated by Samantha Rowe, Partner at Debevoise and Vice-Chair of the ICC UK Arbitration & ADR Committee, which explored the interplay between geopolitical economy and arbitration. The conversation opened with the growing impact of sanctions, highlighted through recent cases discussed by James McGlaughlin, Senior Associate at McDermott Will & Schulte. It moved on to the increasingly decisive role of the arbitral seat, with Lucas Bastin KC, of Essex Court Chambers, noting the rising appeal of Asian countries particularly Singapore. Industry and institutional perspectives then broadened the discussion. Katherine Young, Legal Counsel at Shell, offered insights from the oil and gas sector, focusing on pre-dispute engagement with States, while Jayne Whymark, Director of Legal, E&S and Compliance at UK Export Finance, outlined the challenges faced by export credit agencies amid sanctions, supply chain disruptions, and evolving compliance requirements. The panel concluded with Clare Connellan’s, Partner at White & Case, reflections on the application of force majeure clauses in cases influenced by geopolitical tensions. 

A second panel, chaired by Ned Beale, Partner at Hausfeld, considered the economics of arbitration and the increasing relevance of third-party funding. Rising complexity and arbitration costs, as noted by Leilah Bruton, Partner at Three Crowns, have led parties to rely more heavily on external funding to mitigate financial risk. From the funders’ side, Geoff Nicholas, Managing Director at Burford Capital, explained the factors that shape investment decisions, including the estimated timeline of the proceedings and the prospects of enforcement. Questions of transparency and procedure also surfaced. Audley Sheppard KC, of Twenty Essex, reflected on disclosure obligations relating to funders and his experience of these issues as an arbitrator, while Omar Thair, barrister at Kings Chambers, considered how the costs of funders may be treated in final awards.

Before lunch, Lord Karan Bilimoria CBE, DL, Chairman of ICC UK, shared reflections on the work and legacy of the ICC as it approaches its centenary. The morning also featured the announcement of the winner of the Jus Mundi Hackathon, a student challenge centred on the use of AI tools for arbitrator selection. During lunch, students had an additional opportunity to speak with practitioners and explore themes raised throughout the morning.

The afternoon resumed with a panel moderated by Duncan Bagshaw, Partner at Norton Rose Fulbright and Vice-Chair of the ICC UK Arbitration & ADR Committee, focusing on the quantification of damages in an era shaped by geopolitical instability and the global energy transition. Elisa Mariscal, Principal at Cornerstone Research, Tom Robinson, Senior Managing Director and Economist at Ankura, and Sanaa Babaa, Director at Forensic & Integrity Services, EY, explained how scenario modelling and probabilistic valuations are used to assess damages, noting the difficulties in achieving consensus on assumptions that can significantly alter conclusions. Building on this, Judy Fu, barrister at 3VB, considered the recurring divergence in expert reports and suggested that bifurcating certain assessments may offer greater clarity. Finally, Shivani Sanghi, Partner at Bryan Cave Leighton Paisner, examined whether arbitral tribunals should factor party conduct into damages assessments, drawing on examples from high-value investment disputes.

The final session of the day featured Dr Hélène van Lith, Secretary to the ICC Commission on Arbitration & ADR, and Sophie Nappert, barrister at 3VB and Co-Chair of the ICC Task Force on Corruption, who presented ongoing work of the ICC task force. Their presentation was followed by a discussion with Nick Kling, UK General Counsel at ArcelorMittal, and Annabel Maltby, Partner at Hogan Lovells, expanding the conversation on the impact of corruption to practical perspectives from in-house counsel and private practice.

Overall, the conference offered Queen Mary Comparative and International Dispute Resolution LLM students a valuable opportunity to learn from leading practitioners and academics, deepen their understanding of emerging issues in international arbitration, and connect with experienced professionals.

This opportunity is a manifestation of the continuous collaboration between the ICC and Professor Julian Lew KC. This collaboration started four decades ago, together with the establishment of SIA. It was made possible thanks to the support and coordination of Norah Gallagher and Dr Maria Fanou (School of International Arbitration, Queen Mary) and Ms Harriet Wadsworth (ICC UK).

Report by João Maria Falcão, Comparative and International Dispute Resolution LLM (class 2026).

More information:

• Find out more about studying the Comparative and International Dispute Resolution LLMat QMUL.
• Read more about QMUL's School of International Arbitration and their work.
• Dr Maria Fanou is Senior Lecturer (Associate Professor) in International Dispute Resolution, Academic Director of the Comparative and International Dispute Resolution LLM programme in London and the Acting Director of the Paris LLM programme.
• Norah Gallagher is the Director of SIA.
• Professor Julian Lew KC is the Head of SIA.