Third party funding

ACICA, Asia, Australia, Australian Arbitration Week, Corporate Social Responsibility, Energy, Energy Dispute, Environmental protection, ESG, Investor-State arbitration, Oil & Gas, Price revision, Renewable energy, Third party funding

(Australian Centre for International Commercial Arbitration)/ /Leave a comment
ACICA

On 15 October 2024, Norton Rose Fulbright hosted a breakfast panel discussion on the topic of “Hot Cakes and Hot Takes: Trends and Developments in Asia’s Energy Sector” in Brisbane as part of Australian Arbitration Week. The panel was moderated by Dylan McKimmie, Head of Arbitration and Co-Head of Energy, Norton Rose Fulbright Australia and…

India, Third party funding

, and (Khaitan & Co., Singapore)/ /1 Comment

Most international commercial disputes of moderate-high complexity are expensive. While this may be good for the counsel representing parties, it is less so for the parties. The evolution of alternative fee arrangements (“AFA”) allows parties to nonetheless pursue such disputes without compromising their economic viability. Unfortunately, in India, the courts have opposed the more novel…

LIDW 2024, Third party funding

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This post summarizes an event hosted by Stewarts LLP as part of the 2024 London International Disputes Week (“LIDW”) on the topic of third-party funding (“TPF”) regulation across various jurisdictions. Professor Rachael Mulheron (QMUL) covered England and Wales, Sanjeev Kapoor (Khaitan & Co) offered the Indian perspective, Dr Aseel Zimmo covered the Middle East and…

Enforcement, ISDS, LIDW 2024, London, Mediation, Third party funding

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The centerpiece of the 2024 London International Disputes Week was the full day main Conference on Tuesday, 4 June, bringing together leaders from across the dispute resolution world to discuss the topical issues of the moment under the theme of Uniting for Global Challenge and Opportunity.   The Conference was opened by Luke Harrison, partner…

European Union, Ireland, Third party funding

(Herbert Smith Freehills )/ /Leave a comment
Herbert Smith Freehills

Several recent developments across the EU portend increased availability of third-party funding by parties to EU-seated arbitral proceedings, albeit within a context of regulation of that funding beyond the self-regulatory approach of funder codes of conduct or the rules of funder organizations.   Legalisation of Third-Party Funding of International Arbitration in Ireland Ireland, the only…

CEE, Central Asia, Enforcement, Paris Arbitration Week, Russia, Sanctions, Third party funding

(Addleshaw Goddard LLP)/ /Leave a comment

The eighth edition of the Paris Arbitration Week (“PAW”) started this Monday with Addleshaw Goddard hosting a roundtable event on “The Evolution of Arbitration in the Central Eastern Europe and Central Asia Regions: A Roadmap for the Future”. The discussion included experts from various background: Sébastien Jean (Associate Director of the Geoeconomics and Geofinance Initiative,…

Arbitration, Asia, China, Enforcement, Hong Kong, India, Japan, Singapore, Third party funding, UK, Vietnam

(European Chinese Arbitrators Association & Fieldfisher)/ /Leave a comment

On 29 November 2023, speakers from various jurisdictions met at a conference at Heuking in Düsseldorf, organised by the European Chinese Arbitrators Association (ECAA) and the Asian European Arbitration Centre (ASEAC), to discuss whether we are currently experiencing “A New Dawn of Arbitration in Asia”. Professor Sundra Rajoo, Director of the Asian International Arbitration Centre,…

2023 in Review, Arbitration Act, Cryptocurrency, Expropriation, HK Arbitration Week, Hong Kong, Intellectual Property, Interim measures, ISDS, Japan, Korea, Kyrgyzstan, PRC, Renewable energy, Sovereign Immunity, Tajikistan, Technology, Third party funding, Turkmenistan, Uzbekistan

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Introduction East and Central Asia sees further efforts to promote arbitration through legislative and regulatory developments. Domestic courts clarified issues fundamental to arbitration and the judicial enforcement of arbitral awards. Domestic legislative and judicial bodies and arbitral institutions continue to grapple with recent trends and come up with innovative solutions that reflect the unique experience…

Fee Agreeements, HK Arbitration Week, HKIAC, Hong Kong, outcome related fee structures, Third party funding

, (Freshfields Bruckhaus Deringer)/ /Leave a comment
HK45

On the third day of Hong Kong Arbitration Week 2023, the ADR in Asia Conference, the flagship event of the Hong Kong Arbitration Week, hosted a panel discussion on the Hong Kong Outcome Related Fee Structures for Arbitration (“ORFSA”) regime. The panel followed on from last year’s panel introducing ORFSA and explored updates to the…

England, Third party funding

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Third-Party Funding (“TPF”) has emerged as a parallel industrial complex in the modern dispute resolution landscape. Parties routinely enter into Arbitration/ Litigation Funding Agreements (“LFA”) with third parties, based on both conditional fees and damages-based remuneration models, seeking financial services in relation to advocacy, litigation, or claims management. The increasing popularity of the industry can…

Costs, India, Third party funding

, (Cyril Amarchand Mangaldas)/ /1 Comment

The Delhi High Court has resoundingly acknowledged the viability of third-party funding (“TPF”) in providing access to justice for claimants in arbitrations. In a welcome judgment, the Court ruled that a funder was not liable for an arbitral award and therefore need not furnish security in the enforcement thereof. The Court said the funder could…

Third party funding

, (Nivalion AG)/ /Leave a comment

Recently, a ripple has created a current through the usually calm waters of the litigation funding world: Reports in the media of disputes between funders, clients and lawyers. Over the past months, cases have featured prominently in the public eye, including for example the dispute between Burford and Sysco. At the heart of these disputes…

Arbitration, China, Litigation, Third party funding

(The University of Hong Kong)/ /Leave a comment

In recent decades, third-party funding in arbitration and litigation has grown exponentially in many jurisdictions and has become a matter of continuing debate in academia and practice. (See, for example, here and here for previous blog posts.) Currently, People’s Republic of China (“PRC” or “China”) legislation does not prohibit third-party funding, but it fails to…

EU Law, Third party funding

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International arbitration proceedings typically involve fact-sensitive and technically complex transnational disputes, and usually require large legal teams, multiple expert and fact witnesses, making the costs skyrocket. In this scenario, a party lacking the necessary funds might decide not to pursue a legitimate claim. This limited access to arbitral justice is concerning from a policy standpoint,…

Diversity, Secretary of the Arbitral Tribunal, Sweden, Third party funding, Young Arbitration

(SCC Arbitration Institute) and , (Hannes Snellman)/ /Leave a comment

It was St Martin’s Eve on 10 November 2022, a day also known in Sweden as “Martin’s goose” (Sw. Mårtensgås). As the Swedish name suggests, the St Martin’s Eve custom involves a three-course goose dinner in which all parts of the goose are used and finished with apple cake. It is particularly popular in Scania…

Alternative fee arrangements, Conditional fee agreements, Costs in arbitral proceedings, Disclosure, Hong Kong, Singapore, Third party funding

(WongPartnership LLP)/ /Leave a comment

International arbitration is reputed for its flexibility shaped by the underlying principle of party autonomy. Past years have witnessed the development of various types of funding arrangements for arbitration users, including third-party funding (“TPF”) and, most recently, alternative fee arrangements with counsel (“AFAs”) in Singapore and Hong Kong. While these new initiatives undoubtedly increase flexibility…

Serbia, Third party funding

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Third-party funding is not directly addressed in Serbian legislation. Consequently, there is widespread debate as to whether third-party funding is allowed under Serbian law. This post analyses whether third-party funding of arbitration costs and associated legal fees is admissible in Serbia. It further addresses the conditions that have to be met in order for such…

ICSID, ICSID Amendments, ICSID Proceedings, International arbitration, Investment Arbitration, Third party funding

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On March 21, 2022, the Member States of the International Centre for Settlement of Investment Disputes (“ICSID”) approved a comprehensive reform of its rules and regulations, including the rules of procedure for ICSID arbitration proceedings (“New ICSID Rules”). Drafted over a five-year consultation process and six working papers, this profound amendment aims to “modernize, simplify,…

Africa, Costs in arbitral proceedings, Legal costs, Third party funding

(Africa Arbitration Academy ) and / /Leave a comment

The increasing cost of resolving disputes has become very concerning. While this phenomenon is not altogether new, the rising trend in recent times has given rise to a situation in which impecunious claimholders may be deprived of access to justice. Indeed, even companies with deep pockets now seek innovative ways of managing the costs of…

Arbtech, Blockchain, Crypto, Third party funding

(Chang Law) and (ArbTech)/ /Leave a comment

A recent VICE Motherboard article highlights an intriguing innovation at the intersection of crypto tech and litigation finance. The topic has caused quite a stir, including a thought-provoking discussion on ArbTech, an online forum on technology and dispute resolution. This post reports on this innovation, and expands upon the ArbTech discussion. The innovation concerns Ryval,…

Investment Arbitration, Third party funding, UNCITRAL, VIAC, Working Group III

, , , , (Nivalion AG)/ /Leave a comment

In early 2021, we wrote a post on this blog welcoming the inclusion of specific provisions on third-party funding (TPF) in the 2021 ICC Arbitration Rules. Recent regulatory developments in TPF in investor-State dispute settlement (ISDS), including publication of the VIAC Rules of Investment Arbitration and Mediation (VIAC Investment Arbitration Rules), have enticed us to…

BIT, Counterclaims, ICSID, ICSID Amendments, ICSID Arbitration, ICSID Convention, ICSID Proceedings, International arbitration, Investment Arbitration, Investment law, ISDS, ISDS Reform, Third party funding

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On January 20, 2022, ICSID submitted its amended rules to the Administrative Council for a vote, marking the end of the five-year-old process of modernizing the ICSID Rules. ICSID members are expected to cast a vote on the amended rules by March 21, 2022, and if approved, the rules will enter into force on July…

Costs, Costs in arbitral proceedings, Third party funding

(Herbert Smith Freehills)/ /Leave a comment
Herbert Smith Freehills

The recent English Commercial Court decision in Tenke Fungurume Mining SA v Katanga Contracting Services SAS [2021] EWHC 3301 (Comm) has provided an interesting further comment on the broad discretion available to tribunals in English-seated arbitrations to award the costs of third party funding as part of costs awards. The decision by Mrs Justice Moulder…

Arbitration Act, Case Management, China, HK Arbitration Week, HKIAC, Interim measures, Interviews with Our Editors, Third party funding, Tribunal Secretary

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Sarah has been HKIAC Secretary-General since September 2016. During her time at the helm, the HKIAC has, among other actions, released its 2018 Administered Arbitration Rules, overseen the changes arising from the 2019 arrangement between Mainland China and Hong Kong regarding interim measures for arbitration (“Interim Measures Arrangement”), became the first foreign arbitral institution to…