The Excalibur benchmark & lessons for funders in international arbitration, by James Clanchy
Fears that funders might take control of claims have fuelled calls for regulation of their activities in international arbitration. The International Council for Commercial Arbitration (ICCA) and Queen Mary University of London formed a joint task force in 2013 to study and make recommendations regarding the procedures, ethics, and related policy issues relating to third-party funding (TPF) in international arbitration. The task force is to present its draft report at a conference in Washington DC next month.
However, the English courts have taken a different approach to the control issue in litigation, urging funders to get involved in the cases they support. In its November 2016 decision in Excalibur Ventures LLP v Texas Keystone Inc and others [2016] EWCA Civ 1144, [2016] All ER (D) 127 (Nov) the Court of Appeal confirmed that funders should be penalised for failing to exercise adequate control over proceedings in the Commercial Court.
Sudden death of maintenance & champerty in Singapore & Hong Kong
Meanwhile, two
