Topic: Third-party funding

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

Burford lands big win in airlines case

An ICSID tribunal has ordered Argentina to pay more than US$320 million plus interest for nationalising two airlines more than a decade ago - with the claimants' third-party funder Burford Capital set to receive around US$140 million from the award.

24 July 2017

BIT panel orders funded claimants to prove solvency

A tribunal hearing two bilateral investment treaty cases against Venezuela has ordered the third party-funded claimants to prove they have sufficient assets to pay costs if they lose – after the state demanded that they post US$5 million in security.

12 July 2017

Burford funds first Singapore case and hires in Hong Kong

Disputes funder Burford Capital is financing its first arbitration in Singapore and has recruited from Herbert Smith Freehills in Hong Kong in the wake of recent reforms allowing third-party funding in the two jurisdictions.

05 July 2017

Get unlimited access to all Global Arbitration Review content