News

EVENT: I International Congress on Third Party Funding in International Arbitration

Stonward and the Peruvian Arbitration Institute organize the I International Congress on Third Party Funding in International Arbitration The I International Congress on Third Party Funding in International Arbitration, organized by Stonward Litigation Funding and the Peruvian Institute of Arbitration, will take place on June 29 and 30. The event will take place online and will be broadcasted live via Zoom. During the two days of the Congress, attendees will learn from the region’s leading experts in the field from basic issues such as what is third-party funding, how legal finance works and key aspects of its regulation, to practical…

Carolina Bayo writes for the newspaper Expansión about the new ICC regulation

The economic newspaper Expansión publishes our Senior Director’s opinion on the new ICC Regulation that just entered into force. Carolina Bayo explains that one of the most significant changes in the new Regulation with respect to its 2017 version, which will continue to apply to cases filed before January 1, 2021, is that it includes an expected specific provision on funders and a necessary obligation for the parties: to inform about the existence of third-party funding. The obligation does not specify that the terms of the funding agreement must be disclosed. In Carolina’s opinion, the solution established by the ICC…

New Records for ICC Dispute Resolution

The latest statistics published by the ICC (International Chamber of Commerce) reveal that arbitration is an increasingly popular mechanism for dispute resolution, and the Spanish element continues to increase. In fact, Spain ranked seventh in the most frequent nationalities among parties, with 87 parties representing 3.48% of the total number in all 2019 ICC filings, and Spanish law was the seventh most selected applicable substantive law of all cases registered before the ICC in 2019. Choice-of-law clauses were included in the substantive contractual provisions relied upon by parties in 88% of all cases registered in 2019. These covered the laws…

Collective redress is now a reality in the EU; does it affect Legal Finance?

Collective redress or collective litigation is a legal proceeding where multiple claimants with similar o related claims group together to pursue legal actions against the same defendant or defendants. This common figure known as the “class action” under US Law was not an option under certain EU jurisdictions, until just recently. A new Directive —approved by the European Parliament on November 24—, allowing Collective redress in the European Union is going to change the litigation landscape. The new legislation lays a foundation for representative action in all member states, guaranteeing better protection to consumers against domestic and cross-border “mass harm”,…

“Spain offers a favorable regulation for Third Party Litigation Funders”

LawyerPress interviews our Senior Director, Carolina Bayo, to talk about Legal Finance in Spain. During the interview, Carolina explains why Spain is an attractive country for Litigation Funders, how Legal Finance is regulated, and how Stonward operates and works. “Spain is an attractive market for litigation funders for two reasons: a friendly regulatory framework and a country with very interesting legal assets,” explains Carolina. She also highlighted the importance of banishing some myths regarding this practice, such as the idea that “Legal Finance is an option only for insolvent claimants. Many times, a company is solvent and chooses not to…

Leaders League publishes the launching of Stonward

The international organization echoes the news that Stonward has kicked off its activity in Spain with the aim of offering solutions for financing litigation both in Europe and the Americas. The article quotes our Senior Director and Head of Legal Assets, Carolina Bayo, who explains that third party funding is “not just an option for insolvent claimants. Many times, a claimant is solvent and chooses not to empty its coffers in procedures that can last years, and reinvest those funds in the business and face other expenses that will generate profit in the nearer future. It also allows law firms…

Insights
Stonward, the new provider of bespoke solutions to access legal finance in Europe and the Americas

Stonward Litigation Funding emerges in Spain to offer bespoke solutions to finance commercial disputes in both Europe and the Americas. With a clear vocation to serve clients as a strategic ally, we procure funding to match claims or legal needs with the right third party funder. We arrive at a key moment when an avalanche of global commercial disputes caused by Covid19 are expected due to breach of contract by States and corporations, or increased financial and organizational pressures, for example. Third party litigation funding, increasingly present in Spain, is a legal tool that allows an external party to a…