GAR Volume 9 - Issue 5

A storm over St Lucia - Gavan Griffith QC on third-party funding and security for costs

Reactions to Scottish independence referendum • Are there too many guidelines on counsel ethics?

Features

A storm over St Lucia

An ICSID decision awarding security for costs to the Caribbean island of St Lucia saw Gavan Griffith QC highlight the problem of litigation funders sharing the benefits of successful arbitration claims, while not bearing the adverse costs consequences should the claim fail. Alison Ross reports

Why the majority got it wrong on security for costs

By Christopher Bogart, CEO of litigation financier Burford Capital

RSM v St Lucia: Why the tribunal is to be applauded for security for costs order

In a response to a recent article in GAR, Peter Griffin of London-based investment claims consultancy Slaney Advisors writes that the CEO of Burford Capital’s criticism of a majority ICSID tribunal for awarding security for costs in RSM v St Lucia – and particularly his castigation of Australian arbitrator Gavan Griffith QC – is “regrettable”.

Moving forward as part of the Union

GAR readers have reacted to the news that Scotland will remain part of the UK after 55 per cent of voters said “No” to independence in the recent referendum. Alison Ross canvasses opinion from one of the men behind Scotland’s arbitration legislation; representatives of the Scottish Arbitration Centre; a Welsh arbitrator who splits his time between London and St Andrews; an English commentator on Scottish legal affairs; and a Scottish arbitration specialist based in Hong Kong

From no man’s land to a teenager’s bedroom

Once “a no man’s land”, the area of ethics in international arbitration is now so cluttered with competing codes and guidelines that it’s become like “a teenager’s bedroom”, heard delegates at a recent conference in London – but which should we apply?

Global Briefing

An international arbitration tribunal on business and human rights?

Antony Crockett and Yi-Shun Teoh of Herbert Smith Freehills in Hong Kong consider a proposal for the creation of an international tribunal on business and human rights, to improve access to justice and ensure corporate accountability.

QATAR: Court of Cassation relies on New York Convention to reinstate award

Matthew Walker and Darran Jenkins, partner and associate at K&L Gates in Doha, report on the Qatar Court of Cassation’s recognition of a party’s right to seek enforcement of an award by relying on the New York Convention.

SINGAPORE: The Lord of the Rings Part 4: the quest for natural justice

Nakul Dewan, a member of 20 Essex Street who is called to the bar in India and Singapore, discusses a recent decision of the Singapore High Court that takes the requirements of natural justice a step further than previous case law, using references to The Lord of the Rings to preserve the anonymity of the players in the case.

UK: A breakthrough for financial services arbitration?

Nicholas Peacock, Dominic Kennelly and Emily Blanshard of Herbert Smith Freehills in London consider the arbitral award and judgment of the English High Court in Travis Coal Restructured Holdings LLC v Essar Global Fund Ltd – which suggest that summary procedures may be available to tribunals in appropriate cases – and their implications for the use of arbitration by banks and other financial institutions.

When Asia and Africa meet

Hogan Lovells lawyers Jonathan Leach in Singapore, Markus Burgstaller in London and Thomas Kendra in Paris consider how Asian investors can best protect their investments in Africa, with a focus on three jurisdictions: South Africa, Nigeria and Ivory Coast.

Conference Reports

COPENHAGEN: New challenges in energy disputes

An energy arbitration-focused conference in Copenhagen looked at corruption, the Arctic, stabilisation and renegotiation clauses, and the emerging hostility towards investor-state dispute mechanisms in new bilateral treaties. Jan Schaefer, a partner at King & Spalding in Frankfurt, reports.

Due process must trump efficiency, says Derains

While a continuous search for greater efficiency is essential in arbitration, fairness and due process must always take precedence, argued French arbitrator Yves Derains at the opening of the annual conference of the Brazilian Arbitration Committee (CBAr), being held this week in Porto de Galinhas, northern Brazil.

Nairn in Melbourne (and other news from Down Under)

Karyl Nairn QC, who has acted on high-profile litigations including the Berezovsky v Abramovich case in the English High Court as well as in numerous international arbitrations, noted differences between the two forms of dispute settlement at an event at Melbourne’s new arbitration hearing centre.

SEOUL: Troublesome issues

An event hosted by the Korean Commercial Arbitration Board explored troublesome issues that arise from investor-state arbitration, including the backlash to this form of dispute settlement and states attempts to preserve their regulatory space through investment treaties. Baptiste Rigaudeau of Foley Hoag in Paris and Caroline Swartz-Zern of King & Wood Mallesons in Perth report.

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