Third party funding

2018 In Review, Astana International Financial Centre, Central Asia, China, Commercial Courts, Enforcement, HK Arbitration Week, HKIAC, HKIAC Rules, Mediation, Singapore, Singapore Mediation Convention, Third party funding

(Simmons & Simmons)/ /Leave a comment

As the end of the Year of the Dog approaches, we look back at five noteworthy developments in the arbitration world in PR China, Hong Kong and Central Asia and their coverage on our Blog. 1. New HKIAC Arbitration Rules and the Prominence of Hong Kong as an Arbitral Seat Hong Kong International Arbitration Centre…

Arbitration, Arbitration Agreements, Domestic Courts, ICC, ICC Arbitration, ICC Rules, Kuwait, Third party funding, UNCITRAL, UNCITRAL Arbitration Rules, UNCITRAL Model Law

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On 6 November 2018, the ICC, in collaboration with Al Tamimi & Company, hosted the first Kuwait Arbitration Day. This involved practitioners from across the Middle East and beyond coming together and discussing the latest developments and trends within arbitration. The event attracted over 100 participants who attended despite the day being announced as an…

Asia, Singapore, Third party funding

(Norton Rose Fulbright)/ /Leave a comment
YSIAC

Part I For some time practitioners would have seen news alerts headlining that third-party funding is now permitted in Singapore and Hong Kong for arbitration and arbitration-related court proceedings.  Digging a little deeper beyond the shiny new labels, this article highlights three practical “pitfalls’ which practitioners would have to be mindful of when dealing with…

Bias, Conflicts of interest, Guerrilla Tactics, IBA Guidelines on Conflicts of Interest, Third party funding

(Stockholm University)/ /Leave a comment

Some rules, although made to protect the integrity of an arbitration procedure, open up opportunities for bad faith actors to utilize “legislative” shortcomings. Too often these actors engage in guerilla tactics. Soft law has developed to remedy these grievances. For example, the IBA Guidelines on Conflicts of Interest in International Arbitration (IBA Guidelines) seek to…

Arbitration, Brazil, Latin America, Litigation, Third party funding

, (Woodsford Litigation Funding)/ /Leave a comment

Litigation finance continues expand rapidly on a global basis, including in Latin America. The region’s code-based civil systems generally permit litigation funding and the continued growth in arbitration make it an attractive market for funding. Brazil, as the region’s largest economy, and with a well-developed and sophisticated legal system, is leading the way.  Moreover, local practitioners…

ICSID Amendments, Investor-State arbitration, Security for Costs, Third party funding, Venezuela

(Quinn Emanuel Urquhart & Sullivan, LLP)/ /Leave a comment

“The problem with money,” wrote the American poet and philosopher Ralph Waldo Emerson, “is that it costs too much.” This may soon ring all too true for some investment treaty arbitration claimants and the third parties that seek to fund their claims. Recent developments suggest that there may be support – albeit embryonic – for…

Arbitration, Arbitration Institutions and Rules, Arbitration Proceedings, Costs, Costs in arbitral proceedings, International arbitration, Investment Arbitration, Sweden, Third party funding

, , (Roschier Attorneys, Ltd.)/ /Leave a comment

Introduction Despite a rapid emergence at a global stage, third-party funding (TPF) appears yet as unfamiliar to businesses in the Nordic region. According to a survey included in the 2018 edition of the Roschier Disputes Index, merely 5 per cent of the Nordic companies have used TPF for financing litigation or enforcement proceedings. Arguably, these…

ICSID Arbitration, Investment Arbitration, Security for Costs, Third party funding

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Introduction Security for costs is a controversial territory in international arbitration, especially in investment arbitration. On one side is the respondent State which seeks security for defending a claim with the taxpayers’ resources. However, on the other side, there is the claimant who might become financially incapable of accessing justice if it is asked to…

Africa, Nigeria, Third party funding

(The University of Adelaide)/ /Leave a comment

Introduction   It is no longer news that Third-Party-Funding (TPF) has captured the attention of the arbitration community in recent times and has become increasingly popular even in international commercial and investment arbitration. No doubt, the recent expansion of TPF in international commercial and investment arbitration has spurred debates with regard to its regulation, both…

Ethics, Security for Costs, Third party funding

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The Task Force’s 2018 Report on Third-Party Funding has finally been released. Here are comments on eight of the most interesting points.   Third-party funding involves an entity, with no prior interest in the legal dispute, providing financing to one of the parties.   One of the trickiest issues regarding third-party funding (TPF) has been defining…

Ethics, Hong Kong, Singapore, Third party funding

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Hot on the heels of Singapore’s liberalising third party funding (TPF) for arbitration, Hong Kong followed with similar legislation. Keen to ensure the new regime works, the Singapore Ministry of Law is already seeking feedback on whether cases are being funded, businesses are benefiting from the liberalisation, and whether to expand third party funding.1) Singapore…

Costs in arbitral proceedings, ICCA Sydney 2018, Third party funding

(King & Wood Mallesons)/ /Leave a comment
King & Wood Mallesons

The panel on Arbitration Challenged II: The Realities of Arbitration Economics: Who Gets to Play, and What are the Implications, at ICCA Sydney 2018 Conference, was moderated by Susan Franck, American University, Washington College of Law (United States) and had contributions from Mohamed Abdel Wahab, Zulficar & Partners Law Firm (Egypt); John Beechey, BeechyArbitration Ltd…

Arbitration, ICCA, Third party funding

(Boston University), (General Editor International Journal of Arbitration, Mediation and Dispute Management; Queen Mary University of London), and (Bocconi University)/ /Leave a comment

As the three co-chairs of the ICCA-Queen Mary Task Force on Third-Party Funding in International Arbitration, we are pleased to announce that the final Report will be launched at the ICCA Congress in Sydney with an extraordinary group of experts, including Donald Donovan, Ania Farren, Jean-Christophe Honlet, Gabrielle Kaufmann-Kohler, Julian Lew, Audley Sheppard, and Lawrence…

Artificial Intelligence, HKIAC Rules, Investment Arbitration, NAFTA, SCC Rules, Singapore, Summary Judgment, Summary procedure, Third party funding, TPPA

(Freshfields Bruckhaus Deringer LLP)/ /2 Comments
YSIAC

2017 was a busy year for international arbitration. Taking a walk down memory lane, we saw new players and new industries entering the game, institutions adopting new rules, and we have some new challenges to tackle. This note summarizes some highlights and low lights in international arbitration during 2017 from across the globe. Happy Holidays…

Conflicts of interest, Third party funding

(Clasen, Caribé & Casado Filho Sociedade de Advogados)/ /2 Comments

Arbitration, especially in its international perspective, has experienced such a tremendous growth in the past few decades that it has now become a victim of its own success. Current debates are centered on the prohibitive costs, the difficulty in finding high-level arbitrators and conflicts of interests often exclusive to relatively diminished groups, demonstrating that themes…

Hong Kong, Singapore, The Netherlands, Third party funding

(Fieldfisher) and (Linklaters)/ /Leave a comment
Linklaters

On 1 September 2017, the ICCA QMUL Task Force on Third-Party Funding published its Draft Report for Public Discussion on Third-Party Funding in International Arbitration. The Task Force has developed principles with the aim of providing guidance to parties, counsel, arbitrators and national courts when facing third-party funding related issues arising in different contexts. Furthermore,…

Africa, Arbitration, Middle East, Morocco, Third party funding

, (Afrique Advisors)/ /Leave a comment
Young ICCA

Third-party funding has become a subject of major discussion over the past few years. It is clear that third-party funding is here to stay, and thus the question today is not whether it is going to grow, but rather where the opportunities are likely to be. Third-party funding: Definition and objectives Third-party funding is an…

Arbitration, Investment Arbitration, ISDS, Third party funding

(Durham Law School) and (Roschier Attorneys, Ltd.)/ /1 Comment

Third-party funding remains a hot topic in arbitration, which is understandable considering its complexity and that its accompanying issues often have major implications for arbitral procedure. This fall, the ICCA-Queen Mary Task Force on third-party funding in international arbitration released its “draft,” touching upon a number of contemporary issues vis-á-vis third-party funding, all of which…

Arbitration, ICCA, Third party funding

(Boston University), (General Editor International Journal of Arbitration, Mediation and Dispute Management; Queen Mary University of London), and (Bocconi University)/ /Leave a comment

As the Co-Chairs of the ICCA-Queen Mary Task Force on Third-Party Funding in International Arbitration (Task Force), we are pleased to announce that the draft report of the ICCA-Queen Mary Task Force on Third-Party Funding in International Arbitration is now available for public comment until 31 October 2017. The draft report is available here. Overview…

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

(Luther Rechtsanwaltsgesellschaft)/ /2 Comments

The views expressed in this article are those of the author and do not represent those of Luther Rechtsanwaltsgesellschaft. Third-Party Funding (TPF) has certainly captured the attention of the arbitration community in the last few years. This has led to an interesting debate on its implications and potential need for regulation that has, however, failed…

Arbitration, Third party funding

(Armstrong Teasdale)/ /1 Comment

In the middle of uncertainty over the economic implications of a European Union without Britain and against a continuing rise in the popularity of arbitration as an avenue for redress by corporate investors, a round-table discussion at a chambers on third-party funding of disputes on Tuesday 12 July 2017 could not have come at a…

Arbitration, Hong Kong, Third party funding

(Signature Litigation)/ /Leave a comment
HK45

The Hong Kong Legislative Council (LegCo) recently adopted a new law permitting the third party funding of arbitration. This comes as a welcome development, bringing Hong Kong into line with other common law jurisdictions and ensuring that it keeps pace with its international rivals. It also strengthens the position of the Hong Kong International Arbitration…

Kluwer Mediation Blog, Mediation, Third party funding

(Centre for Commercial Law Studies, Queen Mary University of London)/ /Leave a comment

From conciliation applications in Germany, the use of mediation for companies under judicial reorganization in Brazil, the recent INADR International Law Student Mediation Tournament at the University of Strathclyde in Scotland, to transformative teaching in Shanghai, the broad coverage of topics continues on the Kluwer Mediation Blog. Why not have a look at the summary…

Arbitration, Conference, Investment Arbitration, Third party funding

(Jones Day)/ /Leave a comment
Institute for Transnational Arbitration (ITA)

In his 2014 Assenting Opinion on a security for costs motion in RSM v. Saint-Lucia, arbitrator Dr. Gavin Griffith Q.C. described third-party funders as “mercantile adventurers” and associated their activities with “gambling” and the “gambler’s Nirvana: Heads I win and Tails I do not lose.” This was no voice in the wilderness. The increasingly prevalent…