International Commercial Arbitration in Australia: What's New and What's Next?

This article argues that not much has changed since Australia amended in 2010 its International Arbitration Act, incorporating most of the 2006 revisions to the UNCITRAL Model Law as well as other reforms aimed at positioning Australia as a plausible arbitral venue in the Asia-Pacific region.There is no evidence yet of a broader 'cultural reform' that would make international arbitration speedier and more cost-effective - as urged by Australia's then Attorney-General when introducing the 2010 amendments. In fact, the article first outlines one ongoing cross-border dispute that has engendered at least five sets of proceedings, including a (thankfully unsuccessful) constitutional challenge to the Model Law regime. It then compares case disposition statistics for other Federal Court cases decided three years before and after the amendments, finding only minor differences.1 The article suggests a range of further revisions needed for the Act that emerge from the dispute including the constitutional challenge, as well as other topics for reform including measures to encourage a more internationalist interpretation of instruments such as the Model Law. Continuous improvement and continuous vigilance are needed for Australia to keep developing distinctive expertise in this complex and evolving field of law and practice. Legislative change is only one part of what is required to build a truly Australian brand of international commercial arbitration.What is needed - and what I hope the legislative reforms contained in the [2009 International Arbitration Amendment] Bill will spark - is cultural reform as to how arbitration is conducted in Australia ... If Australia is to ever emerge as an arbitration centre we need our arbitrators to provide a service that is not available in those seats [in our region, such as Singapore and Hong Kong] - something that is more than 'litigation-lite'. We need to invent a form of arbitration that is tailored to the needs of the parties - to the needs of business.A form of arbitration that is prepared to do away with unnecessary formalities and get on with identifying and solving the problem that exists between the parties. A form of arbitration that delivers swift and cost-competitive outcomes. A form of arbitration that is innovative and creative and allows the undoubted talents that exist in the arbitration community to flourish.We need to be able to put ourselves forward as the place you come to when you want your problem fixed, and fixed fast and fairly. The Act -- once it has been amended by the Bill -- will provide a strong legal framework to support that approach. [ABSTRACT FROM AUTHOR]