Premium article - October 12, 2016
In the wake of a consultation last year, Hong Kong's Law Reform Commission has recommended changes to legislation to permit third party funding of arbitration and associated proceedings in the territory with appropriate safeguards. The report issued today recommends that Hong Kong's Arbitration Ordinance should be amended to state that the common law principles of maintenance and champerty - which prohibit third-party funding of litigation - do not apply to arbitration and associated proceedings...
Premium article - July 27, 2016
US oil company RSM's US$200 million claim against the Caribbean state of Saint Lucia is at an end after the company failed to pay US$750,000 security for costs, as ordered by the tribunal in an ICSID first. The centre's website indicates an award was issued on 15 July, which GARunderstands is a dismissal of the claim by arbitrators Siegfried Elsing andEdward Nottingham, with an "assenting opinion" by Gavan Griffith QC (the second one he has issued in the case).The award, which includes an order...
Premium article - June 01, 2016
An ICSID tribunal has thrown out a US mining investor's third-party funded case against the Dominican Republic after ruling that the US$100 million claim was time-barred.
Premium article - April 01, 2016
Should there be a strong presumption that a party using third-party funding should be required to put up security for costs?
Premium article - March 22, 2016
In a decision earlier this year, an UNCITRAL tribunal refused Bolivia's request that South American Silver pay US$2.5 million security for costs in a case over the alleged expropriation of a silver mining concession, saying that it rejected the view of Gavan Griffith QC that claimants using third-party funders should be liable for such security in investor-state cases.
Premium article - May 08, 2015
Burford Capital is financing a multibillion-dollar lawsuit against Argentina over its nationalisation of oil and gas operator YPF, with an investment treaty claim against the state expected to follow.
Premium article - April 30, 2015
US oil company RSM must comply with an order that it pay St Lucia security for costs within six months or its ICSID claim against the state will be dismissed, a tribunal has ruled.
Premium article - October 25, 2014
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
Premium article - September 25, 2014
By Christopher Bogart, CEO of litigation financier Burford Capital
Premium article - September 24, 2014
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".