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  • 11 - Third-Party Funders

  • from Part III - Stakeholders in Arbitration
  • Edited by Stefan Kröll, Andrea K. Bjorklund, McGill University, Montréal, Franco Ferrari, New York University
  • Book:
    Cambridge Compendium of International Commercial and Investment Arbitration
    Published online:
    18 February 2023
    Print publication:
    02 March 2023, pp 305-329

  • Summary

    Third-party funding has evolved into a ubiquitous feature of modern litigation and has become even more prevalent in international arbitration, particularly in light of the high dollar amount of most arbitral awards. The menu of possible third-party funding arrangements is complex, innovative, and ever-changing. A third-party funder is a quintessential stakeholder in the success of all the phases of international arbitration, including the effectiveness of the funded party’s arguments to the tribunal, the negotiation of the settlement (if the case can be settled), the enforceability of the arbitral award (if the case cannot be settled), and the collection of damages and/or costs from the other side according to either a settlement agreement or an arbitral award. The remainder of this chapter surveys disclosure rules regarding third-party funding and describes the role of third-party funders as procedural stakeholders, financial stakeholders, and merits stakeholders within international arbitration.