Effects Of COVID-19 On Arbitral Proceedings: Is The Virus Reshaping The Future Of Arbitration?

COVID-19 pandemic is considered as a health catastrophe that massively affects the world both in health and economical terms. This extraordinary situation and rapid spread of the virus are being felt worldwide and impacting all business sectors. It is a crisis like no other, shutting down factories and schools, closing borders and putting half of humanity under some form of lockdown. It has led to a strong drop in the cash-flow of companies and to a threat of mass insolvencies. Unfortunately, it's not over, with cases continuing to mount worldwide and economies continue to suffer losses.

Considering historical precedents, crisis caused by the COVID-19 is estimated about three times as bad as the global financial crisis of 2008 in terms of GDP decline.¹ But negative effects of the pandemic situation are not limited with economy; the outbreak is triggering multiple impacts, such as social, political, cultural. On the global stage; the outbreak of is also