Topic: Third-party funding

A Dutch national who won a US$45 million investment treaty award against Vietnam is suing his arbitration counsel King & Spalding, accusing the firm of colluding with third-party funder Burford Capital to cheat him out of his due share of the proceeds.

15 June 2021

UNCITRAL has published proposals for reforming the use of third-party funding in investor-state dispute settlement – including models for regulation, a code of conduct, disclosure requirements and potential sanctions.

27 May 2021

Australia’s Sundance Resources has disclosed that Burford Capital will fund its US$8.8 billion ICC claim against the Republic of the Congo over a revoked mining licence – as well as a potential claim against Cameroon.

10 May 2021

A Cayman hedge fund that helped to finance an arbitration against Pakistan has sought leave to subpoena a partner at Crowell & Moring who acted in the case, amid a dispute over more than US$28 million in award proceeds.

26 April 2021

An Australian disputes funder that financed an ICC claim against Albania has obtained a Cayman winding-up order against the claimant after the proceeds of the award were seized by an Albanian bailiff.

09 March 2021

The Australian disputes funder behind a Cayman oil company’s ICC claim against Albania has applied to wind up the claimant after the proceeds of the arbitration award were sequestered by a bailiff in Tirana.

04 February 2021

An Indonesian company and its UK partner have defeated a third-party funded SIAC claim worth US$32 million brought over a coal mining concession on the island of Borneo.

02 February 2021

Tanzania is now facing three ICSID cases over the state's alleged revocation of mining licences after a Canadian company became the latest to make good on an earlier threat to bring a claim.

11 January 2021

An arbitral tribunal has reportedly upheld jurisdiction over a third-party funded claim worth up to US$35 billion brought against Brazil by a minority shareholder in Petrobras over losses the state-owned oil company sustained as a result of the Lava Jato corruption probe.

25 November 2020

After defeating a US$917 million claim under a Soviet investment treaty and winning costs, Kazakhstan has applied for discovery from various US banks to track down the claimant's assets and sources of funding.

06 November 2020