The demand for third-party funding – a financing method in which an entity that is not a party to a particular dispute funds another party’s legal fees or pays an order, award, or judgment rendered against that party, or both – has grown exponentially in both the litigation and the international arbitration communities.
Although it has drawn significant attention in the litigation context, many prospective parties to arbitration do not fully understand what third-party funding entails or what legal parameters exist. This welcome book, expertly revealing the nuances of third-party funding in international arbitration, examines the phenomenon in key jurisdictions around the world and provides a reliable resource for users and potential users that may wish to tap into and make use of this distinctive funding tool.
The authors analyse and assess the legal regime in a variety of countries based upon legislation, judicial opinions, ethics opinions, and practitioner anecdotes describing the state of third-party funding in that jurisdiction. They describe how courts and legislative bodies around the world have thus far handled the major ethical issues and concerns that affect the practice of third-party funding. Among the issues raised and examined are the following: