Abstract

Third-party funding (TPF) is an investment made by funders to finance the legal costs of litigation or arbitration in return for remuneration. It is a non-recourse investment; if the funded party loses, the funder does not receive any return, and consequently loses all their investment. It is a growing trend in litigation and arbitration proceedings, as the last decade has seen a proliferation of TPF cases across the globe. Indeed, the funding mechanism has become so ubiquitous that it has spread to Muslim countries. An example is the United Arab Emirates, the Dubai International ...