International relations

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 MARKET VIEW – LITIGATION 

Omni Bridgeway’s Wieger Wielinga gives an overview of the Enforcement of Arbitration Awards against Sovereign entities in Practice

The last decade has shown a sharp increase in investment treaty-based and other international arbitration against sovereign nations, parastatals and other semi-sovereign entities. In the slipstream came an increase in the number of cases in which such sovereigns resisted complying with judgments and arbitration awards, including awards from the World Bank’s International Centre for Settlement of Investment Disputes (ICSID). Winning an arbitration award against a sovereign does not necessarily mean that recovery will be successful.

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Growing the Litigation Funding Market

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 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).

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Pick your battles

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 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.

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