…of its drafters – security for costs orders against the respondent. Before deciding on the request for security for costs, the tribunal is required to grant all parties “the opportunity…
…as administrative costs). Security for costs should not be confused with security for claims, which refers to the security posted for the substantive claims in the arbitration. Security for costs…
…security for costs. It is so because, if the claimant or its funder is asked to put up security for costs, the odds of a funder still supporting a worthless…
…of security for costs as compared to other kinds of provisional relief. Generally, compelling (under the threat of dismissal) a party with limited resources to post security for costs at…
…for costs stems from the final allocation of costs in the last award. Once this award is rendered, containing the final allocation of costs, the destiny of security for costs,…
…whether security for costs should be granted against the funded party. The key question in assessing an application for security for costs is the party’s ability to meet an adverse…
…costs. (RSM Production Corporation v. Saint Lucia, Decision on security for costs of 13 August 2014, para. 65) The present post discusses the decision on security for costs of the…
…when this contribution prevents ordering security for costs? Moreover, the heated third-party funding debate pending in investment arbitration community just adds more controversy to the issue of security for costs….
…disclosure of the funding arrangements, issues of attorney-client privilege, issues of conflicts of interest for tribunals, and issues of allocations of costs and security for costs. The need to examine…
…Prod. Corp. v. Santa Lucia (ICSID Case No. ARB/12/10, Decision on Saint Lucia’s Request for Security for Costs, 13 August 2014 (“RSM Decision”)), an investment treaty tribunal ordered security for…
…application for security for costs, the terms of a funding agreement are arguably relevant, such as whether the funder is liable to pay an adverse costs order against the claimant…
…as a security for the state’s costs in the case. in a pending oil arbitration proceeding. The ICSID tribunal’s decision issuing security for costs was based on three cumulative elements:…
…to estimate costs at the outset of a case. Security for costs and third-party funding Celeste E. Salinas Quero, legal counsel at ICSID, Washington, D.C., shared results from a…
…only to two-party arbitrations with a single arbitrator. But in general, what’s not to like? The second initiative concerns active costs management in arbitration where legal costs are, in principle,…
…were made against states from these regions. Security for costs requests fail in the vast majority of cases Investor-state arbitration is notorious for its costs. The costs often reach…
… Costs in International Arbitration Costs in arbitration usually fall into two broad categories: (i) costs of the arbitration (i.e. the costs of the tribunal and institution (if any)), and…
…could mitigate the risks associated with financially weak parties who opted for the external funding of arbitration claims is security for costs. However, the use of security for costs in…
…share of the Advance on time could be raised in a security for costs application as an example of impecuniosity. Security for costs is a form of discretionary relief in…
…that costs follow the event. Statutory Provisions on Costs in Arbitration Section 31(8) of the 1996 Act as originally enacted dealt with costs in arbitration proceedings. Precedents that evolved…
…adequate security for costs, a demand BDMS was not willing to meet. Equally, BDMS was not willing to pay the other half of the advance on costs. Subsequently, the ICC…
…Discovery costs would be treated as costs of the arbitration. The ICC rules, with respect to costs, provide in Article 31(3) that “The final Award shall fix the costs of…
…the proposed Rules towards security for costs, namely the arbitral tribunal`s ability to order a party, usually the claimant, to guarantee payment of potential future costs he might be ordered…
…costs is usually predictable. We will leave for another day the question whether international arbitration rules should provide more guidance with respect to costs. The purpose of this posting is…
…against third party funders? 4. Can, and if so when should, a tribunal award costs against third party funders? 5. Can third party funders recover their costs as part of…
