Third Party Funding in International Arbitration and its most current Development in Asia -Issue of Security for Costs and its main Cases

• 발행기관: 한국중재학회
• 저자명: 김세진(Se-Jin Kim) 김대중(Dae-Jung kim)
• 간행물 정보: 『중재연구』 제29권 제4호, 77~100쪽, 전체 24쪽
• 주제분류: 사회과학 > 무역학
• 파일형태: PDF
• 발행일자: 2019.12.30

영문 초록

Third-party funding in international and domestic disputes is a fast-growing trend and it is increasingly used by large, solvent companies that simply wish to share risk in their finance. On January 10, 2017, the Civil Law Amendment Bill was passed in Singapore and on June 2017 an “Arbitration and Mediation Legislation (Third Party Funding) Bill” in Hong-Kong had a third-party funding to finance the international arbitration and other dispute resolutions expressly approved. This arbitral tribunal’s expanding discretion over critical interim measure of security cost was in issue. In Essar v. Norscot (2016), the arbitrator found that the additional third-party funding costs were recoverable as “other costs of the parties.” In here, the decision showed the issue of a tribunal’s power over cost measures could spread out to be reviewed and broadened through the legislative process. A recent investor-state arbitration case of ICSID, RSM Production Corporation v. Saint Lucia, covered the express awarding of security for costs where a claimant was funded by a third-party funder. It seems inevitable that the volume of third-party funding industry will grow more as time goes on. The next step would be to formulate guidelines on how to determine criteria against which an application for security for costs is measured.

목차

Ⅰ. Introduction

Ⅱ. Recent Legislation of Third-Party Funding in International Arbitration and Issues of Security for Costs

Ⅲ. Recent Landmark Case of Security for Costs of in International Arbitration

Ⅳ. Implication of Security for Costs in International Arbitration - Focused on Tribunal’s Discretion

Ⅴ. Conclusion

키워드

third-party funding international arbitration security for costs RSM Production Corporation v. Saint Lucia Essar v. Norscot