Third-party funding has become increasingly common in international arbitration disputes worldwide, and several of the field’s leading organizations are taking that fact into account as they update their rules.
In January, The International Centre for the Settlement of Investment Disputes (ICSID) announced that it was planning to amend its arbitration rules, including, possibly, those regarding third-party funding disclosures.
In December, a working group of the United Nations Commission on International Trade Law (UNCITRAL) began deliberations on possible reforms of investor-state dispute settlement regarding a variety of issues, including third-party funding.
And last October, the International Council for Commercial Arbitration (ICCA) and Queen Mary University of London completed the working draft of a major report on third-party funding issues including attorney-client privilege, conflicts of interest, and best practices. The final report will be available in April.