Essar v. Norscot: Are The Costs Associated With Third Party Funding Recoverable?
Article from: TDM 4 (2018), in Time and Cost Issues in International Arbitration
This piece considers whether procedural rules commonly used in investment arbitration allow for a successful funded party to recover the financial contribution of the third party to the arbitration, as well as any uplift fees that the third party funder might charge, from the unsuccessful party. In Essar v. Norscot, the English High Court upheld the view of the arbitrator under ICC Rules that Norscot could indeed recover such costs from Essar. This article considers whether the decision in Essar v. Norscot might have resulted from unique factual circumstances, making it difficult to ...