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

__________________________________________

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

Singapore Convention on International Mediation

On June 25, 2018, the United Nations Commission on International Trade Law (UNCITRAL) finalized the draft Convention on International Settlement Agreements Resulting from Mediation, to be known as the Singapore Convention.

UNCITRAL’s Working Group II was initiated in 2014 in order to explore the development of mechanisms for the enforcement of mediated agreements in international commercial disputes. Over fifty (50) countries participated in Working Group II, with active contribution from the US, EU, Canada, Australia, Israel, China, India, Korea, Russia, Mexico, Norway, Finland, Switzerland and many others. After four years of collaboration and negotiation, the Working Group has issued a text it hopes […]

Singapore Convention on International Mediation 2018-07-26T06:02:17+00:00

Govenor Brown Signs International Arbitration Amendment Into Law

California Govenor Edmund G. Brown has signed Senate Bill 766 into law.

The California legislature unanimously approved the bill on 5 July 2018. The new law amended sections of the California International Arbitration and Conciliation Act and now allows foreign and out-of-state attorneys to represent clients in international arbitrations without having to register with the local courts or local bar. California now joins other U.S. jurisdictions (like New York, D.C. and Texas) that have similar rules, but California’s statute is now arguably the most welcoming to foreign attorneys. For an in-depth analysis of the bill read our earlier post, HERE.

Major players are already moving to capitalize on California’s […]

Govenor Brown Signs International Arbitration Amendment Into Law 2018-07-19T20:02:26+00:00

Chambers Ranks Third Party Funders

The legal publisher Chambers and Partners has started ranking litigation funders in the United States. In its inaugural ranking, Chambers and Partners divided six funders into three tiers — Band 1, Band 2, and Band 3.

Band 1

Band 2

Band 3

Bentham IMF and Burford Capital take the top spots in Band 1. Both funders are based in New York. Burford is considered the largest litigation funder in the world (with a market cap of approximately $4 billion, according to Chambers and Partners).

Band 2 is […]

Chambers Ranks Third Party Funders 2018-07-12T01:31:20+00:00