The fourth edition of The International Arbitration Review was recently published with our firm’s experts Ramūnas Audzevičius, Rimantas Daujotas and Justinas Jarusevičius contributing an article for Lithuanian section of the review.
The authors provided information regarding the current situation of the arbitration situation in Lithuania and shared their insights about the future trends in the market. The authors note that although litigation is still the most popular method for solving disputes, recent changes in legislation should encourage the usage of arbitration. The most important change is the expansion of the issues list which can be solved through the arbitration. Mediation procedures are also encouraged by the government; however, this method is still very much underdeveloped in Lithuania.