Defining Third-Party Funding
In June 2015, an arbitral tribunal chaired by Professor Julian Lew ordered the claimant to confirm whether its claim was being funded by a “third-party funder.” If so, the claimant was required to advise the tribunal and the respondent of the name and details of the funder and the nature of the arrangements, including whether, and to what extent, the funder would “share in any successes that the claimants could achieve in that arbitration.”
Whom exactly did the arbitral tribunal have in mind when making such an order? More precisely, what was envisaged with such an order? We can even go a little further and ask: with whom or what was the tribunal concerned with when making the order?
Duarte G Henriques’ latest article on Third-Party-Funding addresses this question by adopting a functional perspective and looking at the key features of this new business model.
Access it at Juris Arbitration Law (HERE).