2016 | Septiembre 20
Businesses can recover third party funding they have raised to pursue arbitration claims seated in England from the companies they litigate against, the High Court in London has ruled.
The High Court has now confirmed that the costs of obtaining third party funding in arbitrations in England are in principle recoverable from the opposition by a successful party to those proceedings. His Honour Judge Waksman QC, sitting as a High Court judge, said those costs can be classed as “other costs” under the Arbitration Act 1996. It was in the power of the arbitration tribunal to award such costs, he said.