Sentences with phrase «party arbitration funding»

Third - party arbitration funding in Singapore and Hong Kong is evolving rapidly.

There is a growing trend of dispute resolution funding throughout the common law jurisdictions, as indicated by the recent approvals of third - party arbitration funding in Hong Kong and Singapore through the Arbitration and Mediation Legislation (Third Party Funding)(Amendment) Ordinance and Civil Law (Amendment) Act 2017 respectively.

Not exact matches

This arbitration provision also does not limit or constrain the Bank's right to interplead funds in the event of claims to Collateral Account funds by several parties.

For instance, the Arbitration Ordinance (AO) was amended in 2013 to allow expressly Hong Kong courts to enforce interim relief granted by emergency arbitrators (whether made in or outside Hong Kong), and this year the AO has been further amended to specifically provide for the arbitrability of intellectual property rights disputes (a key development given China's increase in patent applications) and to expressly provide that third - party funding will be permissible for arbitration and mediation.

This raises some interesting questions about an arbitration tribunal's authority to allow (or refuse to allow) third party funding and, if it is permitted, the degree to which the tribunal should control the funder's involvement in the arbitration.

Here are just a few thoughts on some of the issues raised by third party funding in commercial arbitration and how to deal with them.

In my next column, I will look at these and other issues the Tribunal may have to consider in exercising its jurisdiction over the arbitration procedure and the involvement of a third party funder.

Third party litigation funding is growing in Canada and starting to appear in commercial arbitration as well.

So the question arises whether an arbitration Tribunal has any jurisdiction to approve or disallow third party funding arrangements and, if so, what terms a Tribunal ought to impose.

It can assert authority over the party being funded (or seeking funding) in connection with their conduct of the arbitration, but it has no authority over the funder (or prospective funder) unless it agrees to be bound by the arbitration agreement and the Tribunal's decisions.

In my previous column, I looked at the growth of third party litigation (and arbitration) funding in Canada and discussed whether an arbitration Tribunal has any jurisdiction to control the involvement of funders.

The arbitrator was highly critical of the conduct of the Respondent in the arbitration, stating that the Claimant was at a clear financial disadvantage and was faced with no alternative but to seek third party funding because the Respondent:

European and Latin American arbitration specialists will discuss salient issues in international commercial arbitration, such as the degree of arbitrator's disclosure and third - party funding.

Global Arbitration News examines the use of third party funding in arbitration, and answers questions such as «when is third party funding typically available» and «what are the cost benefits»?

,» will offer four tracks devoted to third party funding, assets tracing, fraud litigation / asset recovery, and experts in arbitration.

The Summit is a full day event, covering topics like: commercial arbitration and third party funding, commercial mediation, energy dispute resolution, construction dispute resolution, Investment and finance dispute resolution.

After the proceedings concluded, the retired judge rendered an arbitration award, which directed that the Association hire a contractor to make certain repairs and advance the funds for the work subject to reimbursement from numerous other affected lot owners who were not parties to any of the prior proceedings.

Following our successful funding in the landmark case of Essar v Norscot [2016] EWHC 2361 (Comm), we launched a range of specialist funding solutions designed to help parties in international arbitration make the most of that case's finding.

«Whilst the reforms in Singapore are currently limited to international arbitration and related proceedings, I am confident that once Singapore has tested the water with third - party funding, it will fully embrace third - party funding of litigation and domestic arbitration.

According to TheJudge's website, «Third - party funders view legal claims as financial assets, in which they may invest in exchange for a return based upon the success of the funded litigation or arbitration.

As third party funding is to stay in international arbitration, principles for arbitrators, parties and lawyers to use in such proceedings have been introduced.

By way of update to our Litigation Funding in Singapore report on 3 August 2016, on 10 January 2017 the Singapore Parliament passed amendments to the Civil Law Act legalising third - party funding in arbitration and related proceedings in SinFunding in Singapore report on 3 August 2016, on 10 January 2017 the Singapore Parliament passed amendments to the Civil Law Act legalising third - party funding in arbitration and related proceedings in Sinfunding in arbitration and related proceedings in Singapore.

Use of third party funding for international arbitration is growing, especially in Hong Kong and Singapore where prohibitions against its use have been either relaxed or eliminated.

Another recent trend is third party funding in arbitrations, and the laws in Hong Kong and Singapore have recently been amended to allow this.

Harbour provided extensive input when Singapore, Hong Kong and Dubai considered legislation around third party funding and the team is continuously invited to talk about funding at arbitration forums and litigation conferences globally.

The introduction of clear, ethical and financial standards in the form of a Code of Practice, will provide a progressive framework for the use of third party funding in arbitration and mediation in Hong Kong, including robust safeguards to protect against potential abuse.

Mark Hartigan, Client Services Director at Just Costs Solicitors, said: «Cost management of disputes following Jackson's reforms has become an increasing focus for parties in arbitration and litigation situations, both funded and unfunded.

In Essar Oilfield Services Limited vs. Norscot Rig Management PVT Limited [2016] EWHC 2361, the High Court, applying the Arbitration Act 1996 (the «Act») to an English - seated International Chamber of Commerce («ICC») arbitration, held that the arbitrator had not exceeded his powers in determining that the losing party, Essar, should pay the funding costs of the successful party, Norscot.

With respect to fairness, while those commentators accept that the actual costs of the arbitration paid for by the funder are potentially recoverable (cf. Kardassopoulos & Fuchs vs. The Republic of Georgia ICSID case no ARB / 05/18 and case no ARB / 07/15), they maintain that the uplift or success fee «is neither a party's cost, nor the damage suffered by the funded party... [but is] a result of a contract privy to the funder and the funded party» (Henriques).

Third party funding is used when a party can not pay for the costs of litigation / arbitration or when a party wants to manage the financial risks associated with litigation / arbitration.

Third party funding («TPF») is the provision of funding for litigation or arbitration by a funder that is unrelated to either party.

Not so according to Jamie Curle: «Essar confirms the growing relevance of third party funding to claimants in arbitration and its inexorable march into the mainstream.

We arrange third - party funding, litigation risk sharing insurance and other finance and risk management solutions for clients involved in litigation or arbitration.

On the 14th of June 2017 Hong Kong's Legislative Council passed a law which permits third party funding for arbitrations based in Hong Kong.

Speaker on «Third Party Funding in International Arbitration and Selected Features of Arbitrations involving Sovereigns», ICC YAF, May 2012 (Frankfurt, Germany).

Can third party funding in arbitration diminish the menace of the unfunded claimant, asks James Clanchy

[73] A related assertion is that the parties have agreed to pay privately for an arbitration, but the cost of an appeal judge, courtroom and related support is publicly funded.

Several international arbitral institutions used by parties in the Middle East, have recognised the use of third party funding in arbitration proceedings and are responding to it positively.

Mick Smith reviews the principal issues that arise when considering and / or using third party funding to finance arbitration and how they are handled in practice.

Third - party funding remains in the spotlight in international arbitration and will come under renewed scrutiny following publication of the draft report of the task force established in 2013 jointly by ICCA and Queen Mary University of London.

Robert Rothkopf speaks about allocation of third party funding costs in international arbitration at ICC YAF Conference in Zurich on 30 June 2017.

This year, one of the sessions provided an opportunity to discuss third party funding of disputes with representatives of five leading litigation and arbitration funders operating in Asia.

Calunius chairman Leslie Perrin participated in a panel discussion on the use of third party funding in arbitration with fellow professionals and senior practitioners.

There is lots of noise about third party funding in international arbitration circles, and somewhat less fact and knowledge.

This blog by Robert Rothkopf, Managing Partner of Balance Legal Capital LLP, argues that recent initiatives of the LCIA and the ICC after the QMWC 2015 survey should be welcomed as they not only increase certainty and efficiency for users of arbitration, but will also increase the number of meritorious arbitrations suitable for financial support from third - party funders.

On the 14th of June 2017 Hong Kong's Legislative Council passed a law which permits third party funding for arbitrations based in... Continued

Woodsford Litigation Funding is one of the most well - established third party funders in the international arbitration and litigation market.

The international market for third party litigation and arbitration funding is also on the rise.

While it is early days, the combination of light statutory regulation and a rich pool of disputes means the future looks bright for third - party funding in these arbitration hubs.

Woodsford Litigation Funding and Leste Litigation Finance announce a global cooperation agreement to serve the growing Brazil and Latin America market for third party funding of international arbitration and litFunding and Leste Litigation Finance announce a global cooperation agreement to serve the growing Brazil and Latin America market for third party funding of international arbitration and litfunding of international arbitration and litigation