On 10 January 2017 the Singapore Parliament passed the Civil law Bill (Bill No. 38/2016) legalizing third party funding in international arbitration and related proceedings in Singapore. The Bill entered into force on 1 March 2017 and is one of the first statutes in the world specifically adopted in relation to third party funding. Third […]
New English Court Decision Regarding Third-Party Funding Cost Recovery in Arbitration
In 2008, Norscot Rig Management Pvt Limited (“Norscot”), the Claimant, successfully brought a claim in arbitration before the ICC in London, against Essar Oilfield Services Limited (“Essar”), the Respondent. The Arbitrator (Sir Philip Otton) held that the Respondent had breached an operation management agreement relating to an offshore drilling platform and thus was liable to pay over […]
Third Party Funding Is Being Regulated
For the first time an International Investment Agreement (IIA) is about to include an express reference to third party funding. The draft Free-Trade Agreement (FTA) between the European Union (EU) and Vietnam is paving the way for regulating third party funding in treaties. This regulation effort occurs in a context of booming of third party funding […]
Investment Disputes: The Role of Third Party Funders
The Role of Third Party Funders in Investment Disputes In investment disputes, when the claimant decides to pull the trigger and bring forward, one can wonder what his options are to finance the arbitral proceedings. Claimants most often do not have much capital left and are in a distressed financial situation but their claims have […]
Thibault De Boulle Guest Post On Third-Party Funding In International Arbitration
Thibault de Boulle has kindly offered the IAA Network a guest post on third-party funding, which may be read below. Please do not hesitate to let us know if you have any arbitration-related materials that you would like to have published on the IAA Network, since we always welcome additional materials that are pertinent to […]