Stankovic & Partners, at the end of last month, in collaboration with several legal experts from the Southeast European region, co-organized the second SEEA Conference that was held in Vienna.
The conference, titled “Current Trends in International Arbitration in Southeast Europe: Navigating Geopolitical Shifts, Regulatory Dominance, and the Emergence of AI” brought together over 90 participants from more than 15 countries, as well as 20 distinguished speakers across four panels. The conference also created a platform for networking and knowledge exchange among legal experts, highlighting the growing influence of arbitration as a form of ADR in the SEE region.
Senior Partner Nenad Stankovic participated in one of the panels alongside other experts, delivering thought–provoking and insightful discussions on some of the most pressing topics in the field of arbitration, including the application of ESG standards, the emergence and increasing use of artificial intelligence, and cybersecurity.
Significant changes in arbitration are underway!
The conference concluded that significant changes in arbitration are expected over the next two years. The emergence of artificial intelligence and the increasing emphasis on ESG criteria present both challenges and opportunities for the arbitration community. Legal professionals must adapt quickly to these changes to remain effective in managing disputes and protecting their clients’ interests.
Key Panel Discussions:
1st panel – Role of International law and Treaties in the Evolving Investment Arbitration
Senior partner Nenad Stankovic participated in an engaging discussion on how ESG standards are influencing investment arbitration. The panel examined the heightened scrutiny of investor behavior, the challenges of enforcing ESG compliance, and the growing importance of transparency and fairness in arbitral processes. ESG compliance is now seen as a crucial consideration for both investors and governments, with the panel forecasting a rise in counterclaims related to ESG violations.
”The “S” element of “ESG” in arbitration must be reviewed in respect to arbitration selection, so as to make it more – rational. A closed circle does no one no good, and essentially, it detriments clients.” said Nenad Stankovic
2nd panel – Hot Topics in Arbitration in the SEE Region
A particular emphasis was placed on the rising prevalence of arbitration within the SEE region. Countries such as Greece, Cyprus, Romania, and Serbia have either implemented or are in the process of introducing new arbitration-friendly regulations, including expedited enforcement measures and the expansion of smaller arbitration institutions. This trend highlights the region’s growing significance as an arbitration hub, supported by a conducive legal and business environment.
3rd panel – Technology, Confidentiality, and Data Protection in Arbitration
This panel addressed the substantial effects of emerging technologies and artificial intelligence on arbitration proceedings. Experts highlighted the critical importance of cybersecurity, emphasizing that even a single vulnerability could result in significant data breaches. This highlights the urgent need for legal professionals to adopt secure practices in the face of unprecedented technological advancements.
4th panel – Monetizing Awards: Valuation of Damages, Asset Tracing and Case Funding in today’s legal landscape
Discussions focused on the valuation of damages and recovery of costs in arbitration proceedings. Key takeaways included the necessity for early, transparent communication between experts and the importance of maintaining realistic assumptions to avoid unattainable outcomes, particularly in complex arbitral cases.
As arbitration increasingly becomes the preferred method of dispute resolution in the SEE region, conferences like SEEA are essential in helping legal practitioners navigate through this evolving landscape.
Stankovic & Partners is committed to leading these developments and eagerly anticipates next year’s conference, where further pioneering discussions and innovations will continue to influence the future of arbitration.