Topic: Third-party funding

Market trends and legal issues in third-party funding

An event in London organised by Withers addressed third-party funding of international arbitration in the wake of the recommendations in the ICCA-Queen Mary report. Uliana Cooke of Withers in London reports

08 August 2018

Funded BIT claimants ordered to pay security

A tribunal hearing a pair of bilateral investment treaty claims against Venezuela has ordered the third-party funded claimants to post US$1.5 million in security for costs – only the second known time such an order has been made in an investment arbitration.

06 August 2018

Funder seeks to enforce against Uzbekistan

An affiliate of third-party funder Calunius Capital has applied to a US court to enforce a US$13 million investment treaty award against Uzbekistan – while the mining company that assigned the award tries to revive a billion-dollar claim.

30 July 2018

Vannin Capital loses managing director and expands in Europe

Vannin Capital’s general counsel of disputes and managing director Iain McKenny has left to set up new funding vehicles with the backing of global asset management company La Francaise Group, as Vannin announces the launch of a new funding business across Germany, Austria and Switzerland

20 June 2018

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

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