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Third-Party Funding

Burford lands big win in airlines case

Burford lands big win in airlines case

24 July 2017

An ICSID tribunal has ordered Argentina to pay more than US$320 million plus interest for nationalising two airlines more than a decade ago - with the claimants' third-party funder Burford Capital set to receive around US$140 million from the award.

BIT panel orders funded claimants to prove solvency

BIT panel orders funded claimants to prove solvency

12 July 2017

A tribunal hearing two bilateral investment treaty cases against Venezuela has ordered the third party-funded claimants to prove they have sufficient assets to pay costs if they lose – after the state demanded that they post US$5 million in security.

Burford funds first Singapore case and hires in Hong Kong

Burford funds first Singapore case and hires in Hong Kong

05 July 2017

Disputes funder Burford Capital is financing its first arbitration in Singapore and has recruited from Herbert Smith Freehills in Hong Kong in the wake of recent reforms allowing third-party funding in the two jurisdictions.

Third-party funding gets all clear in Hong Kong

Third-party funding gets all clear in Hong Kong

14 June 2017

Hong Kong has adopted long-awaited legislation expressly allowing third-party funding of arbitration and mediation in the territory for the first time.

Italy denied security for costs in solar claim

Italy denied security for costs in solar claim

14 June 2017

An ICSID tribunal has refused to order a solar power investor to pay security for costs in an Energy Charter Treaty claim against Italy, ruling that the investor’s reliance on a third-party funder following its insolvency did not make the order necessary or urgent.

Singapore’s seismic shift on funding

Singapore’s seismic shift on funding

07 June 2017

Speakers at GAR Live Singapore today reflected on a year that saw a “seismic shift” in the country’s attitude to third-party funding – which went from a mere possibility 12 months ago to a reality embedded in statute.

Irish Supreme Court maintains third-party funding ban

Irish Supreme Court maintains third-party funding ban

24 May 2017

Third-party funding remains illegal in Ireland following a ruling yesterday from the country’s highest court.

The first weeks of funding in Singapore

The first weeks of funding in Singapore

20 March 2017

Singapore has quietly permitted third-party funding of international arbitration but funders are likely to be wary of taking on cases for some time, in part because of difficulties in enforcing awards in the region.

Funded ICSID claim against Colombia goes ahead

Funded ICSID claim against Colombia goes ahead

09 December 2016

Canada’s Eco Oro has made good on its threat to file a treaty claim against Colombia after being deprived of its mining rights on environmental grounds – and will be backed by funders that stand to collect around half of the arbitration proceeds.

RSM applies to annul St Lucia award over funding fuss

RSM applies to annul St Lucia award over funding fuss

22 November 2016

US oil company RSM has applied to annul an ICSID award rejecting its US$200 million claim against St Lucia, on the basis that that the tribunal went too far when it ordered payment of security for costs and an arbitrator showed bias against funded claimants.