ICC tackles Third Party Funding and international arbitration at Annual Institute World Business Law Meeting
The ICC Institute of World Business Law is set to discuss the challenges of using Third Party Funding to offset rising costs of arbitration during its 32nd Annual Meeting, in Paris on 26 November 2012.
Although it has been met with some resistance, Third Party Funding has become common practice in commercial arbitration due to the exponential growth of international investment and commercial disputes. To discuss the issues and techniques of such funding, the ICC Institute of World Business Law will be gathering some of the world’s leading legal and business experts at its Annual Meeting, entitled “Third Party Funding in International Arbitration”.
“Arbitration proceedings can be prohibitively expensive and the issues of funding them by third parties has raised a number of sensitive questions about accessibility,” said Bernardo M. Cremades,Founding Partner, B. Cremades y Asociados, Spain, Council Member of the ICC Institute of World Business Law and Co-Chair of this year’s meeting.
“Anglo-Saxon countries have embraced the solution, while Continental countries continue to regard it with suspicion. This year’s meeting takes the opportunity to discuss the reservations some countries have and the techniques that other countries have already built up through their experience in this field,” Mr Cremades said.
The one-day conference will discuss such topics as “The Decision to Invest in Claims”, including ethical issues, “Confidentiality, Transparency and Attorney-Client Privilege”, “The Role of Funders in the Proceedings”, “Third Party Funding and Collateral Litigation”, among many others.
Discussions will be held in English and French, with simultaneous translation.
“For over 30 years, the ICC Institute of World Business Law has been drawing together the finest legal minds to strengthen links between international business practitioners and the legal profession,“ said Antonias Dimolitsa, Founding Partner, A. Dimolitsa & Associates, Greece, Vice-Chair of the ICC Institute of World Business Law and Meeting Co-Chair. “This year’s annual meeting is an occasion to see the emergence of Third Party Funding practices develop in international arbitration in a way that is compatible with the basic principles that ensure all participants’ rights and the integrity of the arbitral process.”
Professionals involved in international trade and dispute resolution, including lawyers, arbitrators, magistrates, academics and corporate counsel, are all invited to attend.
The proceedings of this year’s conference will also, in principle, be published in the “Dossiers of the Institute” series, copies of which will be sent to all those who register for this meeting.
An Early Bird special rate is available until 14 September, register here.