Topic: Third-party funding

Vannin Capital appoints in the US

After recently naming Yasmin Mohammad as its head of international arbitration, third-party funder Vannin Capital has appointed two new managing directors for the group in New York and Washington, DC – former executive director of the New York International Arbitration Centre Alexandra Dosman and former Arnold & Porter senior associate José Antonio Rivas.

05 June 2018

Kazakhstan creditors can’t pull out of fraud trial, rules judge

The High Court in London has ruled that allegations that a US$520 million Stockholm Chamber of Commerce award against Kazakhstan was obtained through fraud must proceed to trial despite the claimants’ decision to abandon enforcement proceedings in England and Wales.

11 May 2018

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

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