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So far Chang Law has created 42 blog entries.

Vannin Capital Steps Back From IPO

Vannin Capital has stepped back from its plans to offer an IPO on the London Stock Exchange.  This comes right after the third-party funding company initially announced its decision to float on the market in September.  If you missed our coverage of that announcement, check it out HERE.

Proactive Investors reported that after initially projecting a £1 billion valuation last month, Vannin decreased that valuation over this past week to £700 million at most.  Some are suggesting this could be due to Vannin taking notice of the poor performance of the IPOs of Aston Martin and Funding Circle in recent weeks.  Vannin’s executive, however, simply […]

Vannin Capital Steps Back From IPO 2018-10-15T08:09:19+00:00

USMCA Is the New NAFTA: New Limitations on ISDS

President Trump has struck a deal with Canada and Mexico that, if approved by Congress, could affect foreign investors’ ability to arbitrate directly with a country.  See the CBS announcement HERE or listen on NPR HERE.  A comprehensive analysis can be found on Law360 HERE (subscription needed).

In a late-night decision, the United States-Mexico-Canada Agreement (USMCA) has replaced the nearly 25-year-old NAFTA agreement (North American Free Trade Agreement). Along with new guidelines regarding dairy trade and auto tariffs, the agreement between the US, Mexico, and Canada will change how foreign investors from each member state are able to seek remedies against each participating […]

USMCA Is the New NAFTA: New Limitations on ISDS 2018-10-08T13:51:24+00:00

Vannin Capital to Go Public

Vannin Capital, a third-party funder, announced that it is going public on the London Stock Exchange (LSE) next month. See the official announcement by the LSE,  HERE.

The decision to float comes almost ten years after Vannin’s rival, Burford Capital, decided to make the leap in 2009.  It is projected that becoming a publically-traded company will raise the value of the company to somewhere between $655M and $1.3B.  This comes as no surprise when looking at the increase in the frequency of third-party funding in just the past six years. (For more information read about the rise of third-party funding read our recent blog […]

Vannin Capital to Go Public 2018-10-12T16:56:26+00:00

Singapore Convention: A New Dawn for Mediated Settlements

Beginning in 2019, a new international system will come online that aims to ensure the swift and efficient recognition and enforcement of mediated agreements in multiple jurisdictions around the world. There is optimism that this new international treaty, called the Singapore Convention, will do for international mediation what the New York Convention (1958) did for international arbitration. The success of the Singapore Convention could well usher in a new and indispensable legal mechanism for the resolution of international commercial disputes.

In 2015, the United Nations Commission on International Trade Law (“UNCITRAL”) charged a working group (Working Group II) to develop a mechanism for […]

Singapore Convention: A New Dawn for Mediated Settlements 2018-09-18T12:28:11+00:00

Young ICCA Mentoring Applications Due in Two Weeks

Deadline Reminder

This is a reminder to all interested Young ICCA Members to submit applications to the Young ICCA Mentoring Programme before the deadline on 1 October 2018 (midnight CEST). To apply, complete your electronic application HERE. Please have your CV and a one-page letter of motivation ready to upload via the form. About the Program The Young ICCA Mentoring Programme provides Young ICCA Members with a unique opportunity to be mentored by arbitration practitioners around the world. Groups of 3-4 will be assigned to a “Mentor” – a senior arbitration expert who is usually a member […]

Young ICCA Mentoring Applications Due in Two Weeks 2018-09-17T11:40:20+00:00

The Economist Discusses Litigation Finance as Investment

The Economist recently reported on the rise of litigation finance (also referred to as third-party funding) and its growing place in the marketplace. In its article “Appealing returns” the Economist reports that 30 new funding ventures have launched within the past year and a half. Not only are new entrants broadening the litigation finance market, the established funders are expanding as well. For example, Burford Capital committed $1.3 billion dollars to its cases, which is “more than triple the amount it deployed in 2016.”

The article notes a few rationales that may account for this surge in capital. For one, law firms are happy to […]

The Economist Discusses Litigation Finance as Investment 2018-09-04T04:51:18+00:00

ICSID Convention Now In Force For Mexico; NAFTA Negotiations Continue

Mexico recently deposited its instrument of ratification for the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (“ICSID Convention”). The ICSID Convention is now in force for Mexico as of 26 August 2018. Mexico is the 154th state to become a Contracting State to the ICSID Convention, which first opened for signature in 1965. (A full list of Contracting Parties is available HERE.)

Many commentators were surprised when Mexico recently announced its intent to join the ICSID Convention, after ignoring it for the past five decades. The reason behind Mexico’s shift is almost certainly tied to the ongoing renegotiation […]

ICSID Convention Now In Force For Mexico; NAFTA Negotiations Continue 2018-09-01T23:20:16+00:00

TPF Firms Attract Top Legal Talent

In a recent article from the Wall Street Journal (subscription required), third party funders are rushing to hire top legal talent. Bentham IMF has hired ten new attorneys in the past two years, and “[o]ther firms have hired dozens more” from top firms like Arnold & Porter, Latham & Watkins LLP, Proskauer Rose LLP, and Wachtell, Lipton, Rosen & Katz. Principals at TPF firms have said that their inboxes are full on unsolicited applications and there simply are not enough positions to meet the growing demand.

The Wall Street Journal reports that many of the new hires are flocking to TPF firms because they believe it is […]

TPF Firms Attract Top Legal Talent 2018-08-21T02:14:01+00:00

ICSID to Require Disclosure of Third Party Funding in Amended Arbitration Rules

The International Centre for the Settlement of Investment Disputes (“ICSID”) released its Proposals for Amendments to the ICSID Rules. One change in particular, Proposed Rule 21, creates a new duty to disclose third-party funding.

In a Backgrounder document describing the rationale behind the proposed amendments, ICSID explains that Rule 21 creates an obligation to disclose the existence and source of any third party funding. The obligation is ongoing and the apparent purpose is so that “[the named funder] will be provided to potential arbitrators prior to appointment to avoid inadvertent conflicts of interest.”

ICSID appears to […]

ICSID to Require Disclosure of Third Party Funding in Amended Arbitration Rules 2018-08-04T04:57:00+00:00

Eric Z. Chang Appointed to Co-Lead Young ICCA Mentorship Program

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Young ICCA recently announced the appointment of three new office holders to the organization’s Mentoring and Events initiatives. Eric Z. Chang and Gloria Alvarez will lead the Young ICCA Mentoring Programme, while Prince-Alex Iwu will be the new Young ICCA Events Coordinator.

Young ICCA is the young practitioners branch of the International Council for Commercial Arbitration (“ICCA”). ICCA is the leading worldwide nongovernmental organization (with official status as NGO accredited by the United Nations) devoted to promoting the use and improving the processes of arbitration and other alternative dispute resolution […]

Eric Z. Chang Appointed to Co-Lead Young ICCA Mentorship Program 2018-07-26T18:53:07+00:00