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Third party funding: from origins to international arbitration

Journal article | July 2018 | Available for purchase & free for members

Abstract

The use of commercial third party funding (TPF) first developed in insolvency proceedings in Australia, and subsequently in class actions. The early evolution of TPF was characterised by interlocutory disputes over its lawfulness. Following the High Court’s decision in Fostif, Australian case law established precedents on several key issues, including the extent to which TPF requires court approval and the role played by funders in managing litigation. Similar issues are being considered in other common law jurisdictions, including the UK, Canada, Hong Kong and Singapore. Through the adoption of TPF by international arbitration in particular, a new set of internationally recognised common standards is beginning to emerge.

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Thanks

We thank the author of this article Oliver Gayner and the journal editor Russell Thirgood for their contribution to this journal.

Tags: Arbitration, Legal practice, Dispute handling administration, Finance and accounting