LCIA and the Government of Mauritius have mutually agreed to terminate the joint venture agreement
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. Consequently, from 27 July 2018 the LCIA-MIAC Arbitration Centre will cease operations. From that date (27 July 2018), therefore, parties to contracts should not include arbitration agreements providing for LCIA-MIAC arbitration.
A new arbitration centre (entirely separate from the LCIA), the Mauritius International Arbitration Centre (or MIAC) will for its part immediately commence operations in Mauritius, with the continuing full support of the Government of Mauritius and with the international assistance required to guarantee a high level of service. Arbitrations and mediations arising out of agreements inadvertently referencing the LCIA-MIAC Arbitration Centre and concluded after 31 August 2018 will be administered by MIAC; further information can be found on the transitional arrangements page of the MIAC website.
Both the LCIA and the Government of Mauritius remain committed to international arbitration both in and in relation to Africa, and look forward to being involved in its future growth.
To read the full announcement and new MIAC rules, please click HERE.
Source: LCIA-MIAC Arbitration Centre