Looking to the future

Posted on |

 MARKET VIEW – ARBITRATION

Three Crowns’ Jan Paulsson looks at how little we know about arbitration in the present and what that means for predicting the future

Speculating about the future of international arbitration is a more comfortable activity than speculating about its present, because as long as we are not talking about the near future we will not be proved wrong, or be criticised for not knowing the unknowable. But are we really entitled to assert very much about the future when we in truth know so little about the present? We are indeed reduced to speculating about the present, and it is worth reflecting on the causes and consequences of finding ourselves in such a frustrating (and humbling) predicament.

Continue reading “Looking to the future”

Made to measure?

Posted on |

 MARKET VIEW – ARBITRATION

CMS Cameron McKenna’s Guy Pendell and Lindy Patterson QC assess industry sectory arbitration and the role of the specialist institution

Arbitration is available to resolve almost any dispute between parties capable of giving legal consent. Arbitration is available for religious groups through Beth Din (for the Jewish community) and the Muslim Arbitration Tribunal (providing arbitration in accordance with Islamic Sacred Law). Meanwhile, disputes between the NHS and service providers, salary disputes for US National Hockey League players and disputes over sharemilking in New Zealand’s dairy regions can all be determined by specialist arbitration procedures. Continue reading “Made to measure?”

Luxembourg controlled management proceedings

Posted on |

 MARKET VIEW – LITIGATION 

Bonn Steichen & Partners’ head of disputes Fabio Trevisan explores the ‘soft alternative’ to bankruptcy and what it means for both debtors and creditors

Luxembourg law provides for a range of insolvency procedures, of which the most common have as their purpose the winding-up and realisation of the assets of the debtor, namely bankruptcy and judicial liquidation; whereas other insolvency procedures, such as suspension of payments (sursis de paiement), composition with creditors (concordat préventif de faillite) and controlled management (gestion controlée), aim at preserving and/or recovering the business of the debtor. Controlled management (gestion contrôlée) was devised as a less blunt measure than bankruptcy and as a softer alternative to composition with creditors; it permits companies in a temporarily weakened financial state to find a solution while avoiding the harshness and finality of bankruptcy. The controlled management regime is governed by the Grand-Ducal Decree of 24 May 1935, supplementing the legislation on suspension of payments, composition with creditors and bankruptcy.

Continue reading “Luxembourg controlled management proceedings”

Taking on the world

Posted on |

 MARKET VIEW – LITIGATION 

Al Tamimi & Company’s Hassan Arab, Rita Jaballah and Robert Maxwell Marsh examine the growing role of the UAE as a dispute resolution hub and the benefits of conducting dispute resolution in the increasingly comprehensive legal system

With the recent US Open and New York Fashion Week, New York City has once again attracted the eyes of the world and cemented its place as one of the ‘big four’ of tennis and fashion, respectively. But is there a ‘big four’ for global commercial law dispute resolution? The United Arab Emirates (UAE), in its concerted efforts over the past ten years to respond to the needs of the business community and match the highest international legal standards, is well on the way to placing Dubai, alongside New York, London and Singapore, as one of the international ‘big four’ of corporate dispute resolution. Continue reading “Taking on the world”

Small islands, big cases

Posted on |

 MARKET VIEW – LITIGATION 

Maples and Calder’s BVI managing partner, Arabella di Iorio, looks at complex commercial litigation in the British Virgin Islands

We all know the oft-repeated statistics: the hundreds of thousands of British Virgin Islands (BVI) incorporated companies, the hedge funds, the limited partnerships, the captive insurance companies. Those of us fortunate enough to live here also know that the BVI is among the most beautiful places on earth. But what is just as often forgotten is that the development of the BVI as a sophisticated offshore financial centre has gone hand in hand with its development as a jurisdiction able to handle the most complex international litigation.

Continue reading “Small islands, big cases”

Growing the Litigation Funding Market

Posted on |

 MARKET VIEW – LITIGATION 

Simon Dluzniak of Bentham IMF discusses Europe’s litigation funding market and compares it with the more mature Australian market the funder has come from

The third-party litigation funding market in this jurisdiction is, relative to Australia, still in its infancy. Hence it is incumbent upon the various stakeholders within the industry to continue to create awareness of the benefits of litigation funding in assisting and shaping its growth. After what appears to have been a fairly positive start, third-party funding (TPF) appears to have suffered a backlash of sorts as a result of a spate of so-called ‘setbacks’, most notably the loss of high-profile funded cases (for example, the Excalibur case) and the collapse of a well-known funder (Argentum).

Continue reading “Growing the Litigation Funding Market”

Pick your battles

Posted on |

 THIRD-PARTY FUNDING 

London’s litigation funders are turning their attention to international arbitration. Can this deliver their breakthrough?

No sooner had Excalibur begun to drift from memory than another setback befell the litigation funding industry: the decision in August of the RSM v Saint Lucia majority to award security for costs on account of an unnamed funder’s involvement in the case, the first time such an order had been issued in the context of investment arbitration.

Continue reading “Pick your battles”

Covering Every Contingency – Portfolio Funding of Litigation

Posted on |

 MARKET VIEW – LITIGATION 

Therium’s Neil Purslow examines the different funding options available

Since the introduction of damages-based agreements (DBAs) on 1 April 2013, use of contingency fee arrangements (CFAs) in England and Wales has been very limited, due largely no doubt to the fact that partial DBAs are not permitted and also the flaws in the enabling regulations have created uncertainty as to the efficacy of this new form of agreement. Nevertheless, commercial litigators have shown significant interest in taking litigation risk on their cases in return for a contingency fee upside. While this has, however, been difficult to achieve to date, Therium has now launched a portfolio funding offering which, through using a variation of a typical funding structure, allows law firms to offer contingency fee-based services to their litigation clients,
Continue reading “Covering Every Contingency – Portfolio Funding of Litigation”

Neutral territory

Posted on |

 MARKET VIEW – LITIGATION 

Lalive’s Marc Henzelin and Sandrine Giroud examine the key facts on the enforcement of foreign judgments in Switzerland

Ranked among the top five financial centres in the world and top of the Global Innovation Index 2014, with postcard landscapes and a tradition of discretion and stability, Switzerland remains a top destination for companies and wealthy individuals alike to bring their business and wealth. It is therefore unsurprising that enforcement of foreign judgments against assets held in Switzerland is an issue that comes up regularly in the day-to-day practice of international litigators.

Continue reading “Neutral territory”

What’s in store for London’s Commercial Court?

Posted on |

 MARKET VIEW – LITIGATION 

White & Case’s head of litigation, John Reynolds, looks at what impact the development of other countries’ specialist commercial courts will have on the future of London as a centre for international dispute resolution

Despite relentless competition, most notably from New York, the choice of English governing law dominates the international contracts market. So says a recent article from the July/August issue of Legal Business with the benefit of opinion from partners at a number of large international firms (including White & Case’s own David Goldberg).

Continue reading “What’s in store for London’s Commercial Court?”