Tag Archives: third party funding
Singapore Expands Third Party Funding to Domestic Arbitration and SICC Claims
Singapore made waves two years ago when – along with Hong Kong – it formally legalized litigation funding. The motivation was to boost the prominence of Singapore’s international arbitration center. As such, Singapore only allowed funding in international arbitration claims… until now. The city-state has announced that litigation funding will be expanded to both domestic arbitration and certain Singapore International Commercial Court proceedings.
The Rise of Third Party Funding in India
Third party funding has been legal in India since at least 1954, when the Supreme Court ruled that there is nothing morally wrong with outside funding of legal cases, as long as an attorney is not the one doing the funding. In 1996, changes were adopted to the Arbitration and Conciliation Act which further attracted the…
The Growth of Third Party Funding in International Arbitration is Here to Stay
Last month Hong Kong joined Singapore in formally recognizing third party funding in arbitration matters via its Code of Practice for Third Party Funding of Arbitration. With the permissibility of outside funding in international arbitration increasing globally, the practice is gaining in popularity amongst those who encounter it, leading many to suspect its full absorption into…
Third Party Funding in India – Yes, it is Possible
When people think of third party funding in Asia, they mostly think of jurisdictions like Hong Kong and Singapore. But India is rife for a third party funding revolution of its own. The world’s second most populous nation already welcomes litigation funding (don’t listen to those who claim third party funding is prohibited), and many…
Global International Arbitration Centers Discuss Growth of Third Party Funding
Third party funding is now a global phenomenon, due mainly to its usage in international arbitration matters. But what exactly do the international arbitration institutions think of this rapidly-evolving Legal Services instrument? Read on to find out……
Move Over Carnival: Litigation Funding in Brazil is Heating Up!
Writing for Vannin’s Funding in Focus series, Carolina Ramirez, Managing Director in Vannin’s newly-formed New York office, describes the litigation funding climate in South America’s largest and most populous nation. Ramirez highlights both the perceptions and practical applications of litigation finance in Brazil, as well as the regulatory climate and challenges facing industry growth in the region.
The Litigation Finance 2017 Year-in-Review
Evolution. Maturity. Growth spurt. Those are the terms one might use to describe Litigation Finance in 2017. The industry saw a flurry of activity that would make any beehive jealous: Markets opened, funds raised, legal precedents established, and a host of new entrants already looking to disrupt the lit fin industry, which itself is in the midst of disrupting one of the oldest institutions on the planet.
So let’s take a look back at how Litigation Finance ‘took off the training wheels,’ and properly came of age in 2017…
Access to Justice for Developing Countries: Third Party Funding for Sovereigns in WTO Disputes
Guest Post by Mauritius Nagelmueller, who has been involved in the litigation finance industry for more than 10 years.
Access to justice remains one of the prevailing issues within the WTO Dispute Settlement Body (DSB), especially for developing countries. To enforce the promise of a fairer trading system, developing country participation in the DSB must be improved, given that relationships between WTO members are predicated on power dynamics, rather than adherence to the rule of law.
Third party funding has provided access to justice for claimants with meritorious claims, but with limited financial capacity in the private sector, as well as in investor-state disputes. The industry is also capable of leveling the playing field in the DSB, as it can be utilized by developing countries to finance a WTO dispute.
