Topic: Third-party funding
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
ICSID claim against St Lucia dismissed
US oil company RSM’s US$200 million claim against the Caribbean state of Saint Lucia is at an end after the company failed to pay US$750,000 security for costs, as ordered by the tribunal in an ICSID first.
27 July 2016
Crystallex funder backs Colombia claim
A New York private equity firm that reaped a record return by financing an ICSID case against Venezuela has agreed to fund a Canadian mining company’s looming treaty claim against Colombia.
25 July 2016
Dominican Republic triumphs in DR-CAFTA claim
01 June 2016