Topic: Third-party funding

ICCA-Queen Mary task force releases funding report

A joint task force of ICCA and the School of International Arbitration at Queen Mary University of London has unveiled the final draft of its long-awaited report on third-party funding, on the second day of the ICCA Congress in Sydney.

17 April 2018

More funding for Kyrgyzstan claim ahead of hearing

Canada’s Stans Energy says it has secured additional third-party funding to continue with a US$210 million UNCITRAL claim against Kyrgyzstan concerning the expropriation of its mining rights, as the case goes to a merits hearing next week.

03 April 2018

Burford sells interest in Argentina award

Burford Capital says it has made a gain of US$94 million by selling its interest in the proceeds of an ICSID award against Argentina – withdrawing from a dispute where its role as third-party funder led the state to complain of fraud.

13 March 2018

Cayman Islands court says yes to third-party funding

A court has ruled that third-party funding is lawful in the Cayman Islands in a decision arising from an ICDR award enforcement action that brings the British overseas territory in line with other arbitral hubs that have recently confirmed the legality of funding agreements.

23 January 2018

Burford poaches from rival funder

Third-party funder Burford Capital has hired Vannin Capital senior counsel Jeffery Commission, who was previously at Freshfields Bruckhaus Deringer, as a director in Washington, DC.

15 December 2017

Clifford Chance partner fined over role in third-party funded lawsuit

A UK disciplinary body has fined Clifford Chance and a member of its international arbitration practice, Alex Panayides, £50,000 each over their role in a controversial litigation that left a group of third-party funders on the hook for tens of millions in legal costs.

04 December 2017

UK court blocks funding for Turkey claim

A member company of a mining and media conglomerate that was taken over by Turkish authorities after being accused of financing terrorism has been denied permission by an English court to provide funding for a planned ICSID claim.

17 November 2017

Crystallex sues New York bank over Venezuela funds

UPDATED: An ICSID creditor has brought a US court action to compel Bank of New York Mellon to hand over funds belonging to the Venezuelan government that are also at issue in an unrelated arbitration in Rio de Janeiro.

15 September 2017

ICCA and Queen Mary invite feedback on funding report

A joint task force of the International Council for Commercial Arbitration and the School of International Arbitration at Queen Mary University of London is inviting comments on its long-awaited report on third-party funding of international arbitration.

06 September 2017

Enforcing a funded award in an anti-funding environment

For third-party funders and those who use funding, the enforceability of their awards is a key concern. Ben Knowles, the London-based co-chair of international arbitration at Clyde & Co, and senior associate Paul Baker consider whether enforcement of an award could be challenged in a jurisdiction that does not permit funding on the public policy ground that the award creditor was funded.

20 August 2017

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