Co-chairs of the Third-Party Funding Task Force

Professor Catherine Rogers, Professor William W. Park and Professor Stavros Brekoulakis


A joint project with



Task Force Members

    • Dr. Mohamed Abdel Wahab
    • Mr. Guillermo Aguilar-Alvarez
    • Ms. Lisa Bingham
    • Mr. R. Doak Bishop
    • Ms. Lise Bosman
    • Dr. Stavros Brekoulakis
    • The Honorable Charles Brower
    • Mr. Brett Carron
    • Mr. Teresa Cheng
    • Mr. Alan Crain
    • Mr. Babatunde Fagbohunlu
    • Ms. Ania Farren
    • Mr. Richard Fields
    • Mr. Jonas von Goeler
    • Mr. Alain Grec
    • Mr. Duarte Gorj?o Henriques
    • Ms. Anna Joubin-Bret
    • Dr. Sabine Konrad
    • Ms. Susanna Khouri
    • Mr. Kap-You (Kevin) Kim
    • Ms. Meg Kinnear
    • Mr. Toby Landau, QC
    • Professor Julian Lew
    • Mr. Timothy Mayer
    • Professor Horacio Naón
    • Mr. Fidelis Oditah
    • Professor William Park
    • Dr. Nikolaus Pitkowitz
    • Mr. Michael Pryles
    • Mr. Walter Remmerswaal
    • Professor Sir Bernard Rix
    • Mr. John D. Roesser
    • Professor Catherine Rogers
    • Mr. José Rosell
    • Ms. Ank Santens
    • Dr. Anke Sessler
    • Professor Victoria Shannon
    • Mr. Audley Sheppard
    • Prof. Hi-Taek Shin
    • Mr. Laurence (Larry) Shore
    • Mr. Mick Smith
    • Dr. Willem H. van Boom
    • Mr. V.V. Veeder
    • Mr. Gaëtan Verhoosel
    Home ::  Projects :: Third Party Funding

     

    Third-Party Funding

    The Third-Party Funding Taskforce will systematically study and make recommendations regarding the procedures, ethics, and related policy issues relating to third-party funding in international arbitration. The Task Force is comprised of representatives drawn from among all relevant stakeholders and interested members of ICCA. Its work will be presented in a series of White Papers and a number of public colloquia to be hosted at Queen Mary’s Centre for Commercial Law Studies, London.


     

    Latest News and Updates

     

    Upcoming Meeting (open to all ICCA Members): 9 March 2015, Frankfurt

    The Joint ICCA-Queen Mary Task Force on Third-Party Funding cordially invites ICCA members to attend a half-day conference on Third-Party Funding in Frankfurt on 9 March 2015. The event will include an update on progress made by the Task Force, as well as a mock hearing showcasing issues arising in connection with third party funding arrangements.

    Date: 9 March 2015
    Venue: Frankfurt University (Goethe-Universität Frankfurt am Main, Campus Westend, Grüneburgplatz 1, the number and location of the room will be announced shortly
    )
    Times: 11.30-15:15
    No registration fee will be charged, but advance registration is required

    RSVP: Daniela Gerber (Dgeber@mwe.com)

    Deadline for registration: 4 March 2015

     

    Programme:

    11:30 to 12:00 Welcome  - Update of the progress made by the ICCA-Queen Mary Task Force on Third-Party Funding
    12:00 to 12:45 Disclosures and Conflicts – To what extent does funding have to be disclosed and what consequences may a disclosure have (Mock Part 1)
    12:45-13:30 Lunch (Mensa of the University)
    13:30 – 14:30 Security for Costs and Cost Decisions (Mock Parts 2 and 3)

    14:30 – 15:00 – Open Discussion
    15 :00-15 :15 Closing


    Moderators:

    Anna Joubin-Bret, Cabinet Joubin-Bret, Paris

    Sabine Konrad, McDermott Will & Emery Rechtsanwälte Steuerberater LLP, Frankfurt

    (Co-chairs of the Task Force’s Subcommittee on Investment Arbitration)

     

    Cast of the Mock Hearing:

    Sole Arbitrator: José Rosell, Hughes Hubbard and Reed LLP, Paris

    Counsel for Claimant: Amy Kläsener, Shearman & Sterling LLP, Frankfurt

    Counsel for Respondent: Joachim Knoll, Lalive, Geneva

    Claimant: Joseph Marx, McDermott Will & Emery Rechtsanwälte Steuerberater LLP, Frankfurt

    Funders:

    Susan Dunn, Harbour Litigation Funding Limited, London

    Alain Grec, La Française IC Fund, SICAV-FIS, Luxembourg

    Respondent State: Duarte Henriques, BCH LAWYERS, Lisbon

     



    April 2014, Miami: Meeting Report

    by Stavros Brekoulakis, Task Force Rapporteur

    The ICCA-Queen Mary Task Force on Third-Party Funding in International Arbitration convened its second meeting on 6 April 2014 in Miami. At the meeting, the Task Force identified a number of action items concerning important TPF issues. Among the topics designated for action by the Task Force are development of disclosure standards for TPF, and a special initiative to explore the impact of TPF in investment arbitration. The Task Force is also working to develop guidelines on security for costs and costs allocations in arbitration involving TPF arrangements, as well as producing best practices guidelines for funders. These and other topics were presented to and discussed with interested ICCA members at a luncheon on 8 April 2014.


    About the Task Force

     

    According to the statistics of one funder, at least 60% of all ICSID cases enquired about (but not necessarily sought or obtained) third-party funding before their cases were lodged.  The 2014 revision of IBA Guidelines on Conflicts of Interests in International Arbitration” arguably included wording that would require third party funding to be disclosed for the purposes of arbitrator conflicts. – Despite this decisions by tribunals (notably in treaty-based arbitrations) remain a rarity.

    The ICCA and Queen Mary jointly created a Task Force on Third-Party Funding in International Arbitration in 2014.  The Task Force will systematically study and make recommendations regarding the procedures, ethics, and related policy issues relating to third-party funding in international arbitration. The Task Force is comprised of representatives drawn from among all relevant stakeholders, including arbitration practitioners, funders, government representatives and academics. The Task Force is co-chaired by ICCA Governing Board Member William “Rusty” Park and Catherine Rogers, the Professor of Regulation, Ethics and the Rule of Law at Queen Mary, and Professor of Law and International Affairs at Penn State Law, and Professor Stavros Brekoulakis, Professor of Commercial Law and International Arbitration at Queen Mary. Lise Boseman, Executive Director of ICCA, will serve ex officio. The task force has created a number of sub-committees, including on conflicts, costs and on investment arbitration.

    In order to enable a frank and public debate about the salient issues, the Task Force’s sub-committee on investment arbitration is organising a conference on 9 March 2015 in Frankfurt at the University of Frankfurt (the name of the building will be announced shortly)The conference will up-date participants on the progress made so far.  In addition, it will show-case the relevant arguments in a mock-hearing.  The fact pattern is based on a number of recent decisions by tribunals.