Third-party Funding in International Arbitration

The last decade has seen an exponential growth in both international commercial arbitration and international investment arbitration. Nevertheless, arbitration proceedings can prove to be very costly, and their funding raises the delicate question of the accessibility of arbitration. The solution offered by third-party funding has undoubtedly become a fact of life in the world of arbitration, despite reservations in some quarters. Although continental countries continue to regard it with suspicion, Anglo-Saxon countries have embraced this solution and have already built up a body of experience in the field. This publication considers the various funding techniques specific to international arbitration before looking at some of the legal issues raised by such funding and the reactions it may arouse among international arbitration practitioners. This publication is the ICC Institute of World Business Law's latest contribution to its Dossier series on new practices in international arbitration and is inspired by the wish to see those practices develop in a way that is compatible with the basic principles that ensure all parties' rights. The contributions in Dossier X: Third-party Funding in International Arbitration tackle these issues from the point of view of arbitrators, counsel, corporate lawyers and arbitral institutions and draw on the knowledge and experience of some of today's leading experts in the field of arbitration. Dossier X: Third-party Funding in International Arbitration is published under the auspices of the ICC Institute of World Business Law, chaired by Yves Derains. Through this latest publication, the ICC Institute of World Business Law continues to fulfil its dual mission of providing training and acting as a think-tank for the International Chamber of Commerce, particularly in the field of arbitration. The International Chamber of Commerce, the World Business Organization, based in Paris, is the global leader in the development of standards, rules and reference guides for international trade. The contributors to this Dossier include: Georges Affaki, Mark Kantor, Selvyn Seidel, Christopher Bogart, Charles Kaplan, Maxi Scherer, Régis Bonnan, Carolyn Lamm, Sandra Sherman, Antonio Crivellaro, Laurent Lévy, Eckhard Hellbeck, Angelynn Meya.