Topic: Third-party funding

Italy denied security for costs in solar claim

An ICSID tribunal has refused to order a solar power investor to pay security for costs in an Energy Charter Treaty claim against Italy, ruling that the investor’s reliance on a third-party funder following its insolvency did not make the order necessary or urgent.

14 June 2017

Singapore’s seismic shift on funding

Speakers at GAR Live Singapore today reflected on a year that saw a “seismic shift” in the country’s attitude to third-party funding – which went from a mere possibility 12 months ago to a reality embedded in statute.

07 June 2017

Irish Supreme Court maintains third-party funding ban

Third-party funding remains illegal in Ireland following a ruling yesterday from the country’s highest court.

24 May 2017

The first weeks of funding in Singapore

Singapore has quietly permitted third-party funding of international arbitration but funders are likely to be wary of taking on cases for some time, in part because of difficulties in enforcing awards in the region.

20 March 2017

Funded ICSID claim against Colombia goes ahead

Canada’s Eco Oro has made good on its threat to file a treaty claim against Colombia after being deprived of its mining rights on environmental grounds – and will be backed by funders that stand to collect around half of the arbitration proceeds.

09 December 2016

RSM applies to annul St Lucia award over funding fuss

US oil company RSM has applied to annul an ICSID award rejecting its US$200 million claim against St Lucia, on the basis that that the tribunal went too far when it ordered payment of security for costs and an arbitrator showed bias against funded claimants.

22 November 2016

Funder wins contempt ruling after client absconds

Third-party funder Therium Capital Management has won a contempt ruling against a retired trader who fled the UK with the proceeds of a litigation it financed, as it pursues an LCIA claim to recover its fees.

31 October 2016

Hong Kong a step closer to reforming law on funding

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.

12 October 2016

English court approves recovery of third-party funding costs

The English Commercial Court has upheld a partial award of ICC arbitrator Sir Philip Otton allowing a party to recover its third-party funding costs – in what is thought to be the first decision of a UK court on the issue.

20 September 2016

Another billion-dollar award against Venezuela

A Canadian gold mining company has won a third-party funded treaty claim against Venezuela, receiving an award totalling over US$1.2 billion.

23 August 2016

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