Costs

Observations on Arbitration: video for in-house counsel on the Myths and Realities of Arbitration

In this short video in our Observations on Arbitration series, Professional Support Consultants Vanessa Naish and Hannah Ambrose talk about the myths and realities surrounding the arbitration process.  The discussion draws out key points and common misconceptions about arbitration, touching … Continue reading

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Filed under Costs, Enforcement, Interim relief, Publications and Guides, Video

ICSID tribunal rules that it is neither necessary nor urgent to grant security for costs from a claimant with the benefit of third-party funding

An ICSID tribunal has rejected a State's application for security for costs in circumstances in which the other party had third-party funding in the form of ATE insurance which specifically provided for cover of the State's costs. Italy's request for … Continue reading

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Filed under Costs, Europe, Investment Arbitration, ISDS, Third Party Funding

Paris Bar Council indicates support for third-party funding

In a resolution adopted on 21 February 2017, the Paris Bar Council (Conseil de l'Ordre) indicated its support for third-party funding. The resolution confirms that third-party funding is in the interests of both clients and counsel, particularly in the context … Continue reading

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Filed under Costs, Europe, News, Third Party Funding

Australian Court provides guidance on Art 33(3) of the Model Law, the doctrine of functus officio and when a ‘Final Award’ is not ‘final’

In Blanalko Pty Ltd v Lysaght Building Solutions Pty Ltd [2017] VSC 97, Croft J of the Victorian Supreme Court confirmed that a party is not required to rely on, or comply with the time constraint in, Art 33(3) of … Continue reading

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Filed under Arbitration laws, Australia, Awards, Costs, Court intervention, Stays, UNCITRAL Model Law

UPDATE: Third-party funding of international arbitration now permitted in Singapore

Overview We reported previously (here) on the Singapore Parliament's passage of the Civil Law (Amendment) Bill (Bill No. 38/2016) (Bill) on 10 January 2017. The Bill entered into force on 1 March 2017 as the Civil Law (Amendment) Act 2017 … Continue reading

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Filed under ADR, Asia, Costs, Third Party Funding

English court upholds arbitrator’s decision to award claimant the costs of third party funding

The English court has refused a challenge under s68(2)(b) of the Arbitration Act 1996 (the Act) and held that a sole arbitrator did not exceed his powers in including the costs of third party funding within a costs award (Essar … Continue reading

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Filed under Arbitration laws, Awards, Challenges to awards, Costs, Third Party Funding

“We will pay for delays” – ICC clampdown on its award scrutiny process

On 13 July 2016, the International Chamber of Commerce ("ICC") issued its revised Practice Note allowing for a reduction in ICC administrative fees of up to 20% for unjustified delays in the ICC's award scrutiny process. The revised Practice Note … Continue reading

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Filed under Awards, Costs, Institutions

ICC Court announces new policies to foster transparency and ensure greater efficiency

On 5 January 2016, the ICC Court announced two new policies aimed at enhancing the efficiency and transparency of ICC arbitration proceedings.   The first aims to promote transparency for users and stakeholders in ICC arbitration by publishing the names and … Continue reading

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Filed under Awards, Costs, Institutions

Hong Kong Court extends indemnity costs principle to arbitration agreement challenges

In Chimbusco International Petroleum (Singapore) Pte Ltd v Fully Best Trading Ltd (HCA 2416/2014), the Hong Kong Court of First Instance (CFI) has confirmed that a party who unsuccessfully challenges an arbitration agreement before the court should expect to pay … Continue reading

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Filed under Challenges to awards, Costs, Enforcement, Hong Kong & China, Stays

ICC examines allocation of costs in international commercial arbitration

On 1 December, the Commission on Arbitration and ADR of the International Chamber of Commerce (ICC) issued a report intended to inform users of arbitration of the factors that tribunals consider when allocating costs between parties to arbitration. A 60-strong … Continue reading

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Filed under Awards, Costs, Institutions