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Past Events


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. James Clanchy
  • Mr. Alan Crain
  • Ms Susan Dunn
  • 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
  • Mr. Michael McIlwrath
  • 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. Gaëtan Verhoosel
  • Mr. Jean-Christophe Honlet

* List of members soon to be updated


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.


News and Updates


2 October 2017: An overview of upcoming Task Force events and meetings

9 October 2017: Conference hosted by Lisbon University Faculty of Law (organized by Duarte Henriques) (public)
10 October 2017: Policy Roundtable in San Francisco (organized by Cardozo & UC Hastings Law Schools) (by invitation)
12 October 2017: London Roundtable for Maritime/Insurance/Funders (organized by Task Force Co-Chairs together with The Law Society) (by invitation)
16 October 2017: Third Party Funding and Alternative Fee Arrangements in Hong Kong (public; registration details here)
17 October 2017: TPF in Investment Arbitration Roundtable in NY (organized by Columbia Center for Sustainable Investment) (by invitation)
25 October 2017: Symposium at Boston College (organized by Frank Garcia) (public)
7 November 2017: Final Task Force Meeting to discuss finalization of the Report (by invitation)
8 November 2017: Norton Rose Event in London (public)
17 November 2017: TPF Panel at Fordham Law School Conference on International Arbitration and Mediation (public)
April 2018: Report published at ICCA Congress; Presentation of Task Force Report (details TBA) (public)

For more information on any of the above events, please contact the Third-Party Funding Task Force Co-chairs via email at tpftaskforce@arbitration-icca.org.


1 September 2017: Third-Party Funding draft report now available online for public comment

The draft report of the ICCA-Queen Mary Task Force on Third-Party Funding in International Arbitration is now available for public comment until 31 October 2017. The draft report is available here. To submit your feedback on the report to the Task Force Co-Chairs, Professor Catherine Rogers, Professor Stavros Brekoulakis and Professor W.W. (Rusty) Park, please email your remarks to tpftaskforce@arbitration-icca.org.

ICCA President Donald Donovan expressed his support for the project saying "ICCA is grateful for all the hard work by members of the Task Force, and hopeful that the draft report will promote robust discussion during the public comment period.” The Co-chairs look forward to engaging with public comment on the draft, which includes chapters on the impact of third party funding on costs and security for costs, attorney-client privilege, and conflicts, together with overarching chapters on definitions and best practices. In the lead up to the launch of the final report at the ICCA Congress in Sydney in April 2018, the Task Force will also be discussing the draft report with representatives of the insurance industry, maritime arbitration practitioners and other international arbitration experts. Should you have any queries, please contact bureau@arbitration-icca.org.


We invite you to consider also the Annex to the Draft Report, a collection of country reports on privilege in the context of third-party funding. A copy of the Annex can be viewed and downloaded here. 

21 July 2017: Third Party Funding draft report: public comment from September 2017

The draft report of the ICCA-Queen Mary Task Force on Third Party Funding in International Arbitration will be made available for public comment from 1 September - 15 October 2017. The draft will be posted for comment on ICCA's website (www.arbitration-icca.org). The Task Force Co-Chairs, Professor Catherine Rogers, Professor Stavros Brekoulakis and ICCA Governing Board member Professor W.W. (Rusty) Park, look forward to engaging with public comment on the draft, which will include chapters on the impact of third party funding on costs and security for costs, attorney-client privilege, and conflicts, together with overarching chapters on definitions and best practices. In the lead up to the launch of the final report at the ICCA Congress in Sydney in April 2018, the Task Force will also be discussing the draft report with representatives of the insurance industry, maritime arbitration practitioners and other international arbitration experts. For more information, please contact bureau@arbitration-icca.org.



12 April 2017, Washington DC, USA

On 12 April 2017, representatives of the ICCA-Queen Mary Task Force presented their key findings at the 14th Annual ITA-ASIL Conference. Drawing on the findings of the ICCA-Queen Mary Task Force on Third Party Funding, the conference offered participants a deeper look at what defines third party funding and opened a discussion about the legal-ethical concerns surrounding the concept.

After introductions from ASIL President Lucinda Low and ITA Chair Abby Cohen Smutny and a keynote address delivered by ICCA-Queen Mary Task Force Co-chair William Park, the conference moved to a discussion of the key findings of a draft of the ICCA-Queen Mary Report on Third Party Funding. Participants to the conference were offered exclusive access to the report in advance of the conference. Panellists for this discussion were Erika S Levin, Steve Jones and Victoria Sahani and Ruth Teitelbaum acted as moderator. 

After a short break, the conference reconvened for a session on the legal-ethical concerns and regulations of third party funding. Panellists included Jeffery P. Commission, Lise Johnson and Kim Rooney. The session was moderated by Stavros Brekoulakis.

The conference ended off with concluding remarks by ITA Academic Council Chair Susan D. Franck.

Photo gallery to be made available soon.


8 May 2016, Mauritius

ICCA-Queen Mary Task Force Report on Third Party Funding Open briefing and Discussion Meeting in Mauritius on Saturday, 8 May 2016.


12 February 2015, London 

The ICCA-Queen Mary Task Force on Third-Party Funding in International Arbitration met on 12 February 2015 in London. The meeting reviewed draft reports from the sub-committees on costs and security for costs, on TPF best practices, on investment arbitration and conflict of interests for arbitrators. It was decided that a new sub-committee will be set up to look into the issue of disclosure of TPF agreements in particular. It was further decided that the reports from all sub-committees will be finalised and integrated into a single comprehensive report to become public by the end of 2015.

A half-day conference on third-party funding was hosted by the Task Force on 9 March at Frankfurt University. The conference was open to all ICCA Members, and included a mock hearing showcasing issues arising in connection with third-party funding arrangements.


Task Force Meeting: 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

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.