The Covid-19 virus has exposed more than one pandemic we face as a society. Our world today includes no fewer pandemics than those of mental health, household financial instability, socioeconomic inequities and racial injustice.
In the business sector, we see pandemics of zombie companies, bad debts and real estate losses.
For all these frictions, the global industry for disputes is booming. As Covid-19 losses are incurred at the country and company levels, there are natural tendencies to fight for scarce resources.
The value of disputes in international arbitration has grown at least 7% faster than the global growth rate
Recent months have seen disputes over vaccines in Europe, water resources in East Africa and energy resources in Southeast Asia. For businesses, disputes may concern shareholder rights, true value of assets and impact on local communities.