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Max Planck Encyclopedia of International Procedural Law [MPEiPro]

Third-Party Funding: Investment Arbitration

Maya Steinitz

From: Oxford Public International Law (http://opil.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 29 June 2022

Subject(s):
Third party participation — Financial assistance — Costs and expenses — Arbitral rules

Published under the direction of Hélène Ruiz Fabri, with the support of the Department of International Law and Dispute Resolution, under the auspices of the Max Planck Institute Luxembourg for Procedural Law.

1 The genesis of third-party funding is usually traced to Australia, where access to justice reforms assumed the position of allowing both class actions and third-party funding. Like other Common Law jurisdictions, Australia traditionally prohibited champerty—a non-party funding a party’s lawsuit for profit—rendering it both a crime and a tort. But beginning in the 1990s, Australian legislatures commenced loosening champerty restrictions. Cracks in the prohibition first showed up in the context of bankruptcy, where it was uncontroversial that a trustee or...
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