A dormant advantage of arbitration emerges: arbitrators have the power to order a losing party to pay claimant’s third party litigation funding costs
The recent case of Essar v Norscot has clarified that an arbitrator’s general power to award costs includes the power to award the costs of third party funding. In so doing, has arbitration gained an unexpected advantage over litigation for claimants that require third party funding?
Arbitration finance: Show me the settlement strategy
Counsel, institutions and tribunals must bring settlement/ADR firmly within the arbitration process in order to satisfy clients and reduce third-party funding costs In the latter half of 2015, the Queen Mary/White & Case International Arbitration Survey 2015 re-confirmed international arbitration as the primary way to resolve cross-border disputes. Whilst its best feature remains the international … Continue reading Arbitration finance: Show me the settlement strategy
Innovation by arbitral institutions spells good news for users of arbitration funding
Recent improvements by the institutions will increase funding for meritorious proceedings The international arbitration community was treated to insightful data and a call to action in the latter half of 2015 in the form of the Queen Mary/White & Case International Arbitration Survey 2015: Improvements and Innovations in International Arbitration (“QMWC 2015”). The survey showed … Continue reading Innovation by arbitral institutions spells good news for users of arbitration funding
