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 issues such as the benefits of this legal tool or how to deal with the enforcement of awards.
Attendees will receive a free digital certificate upon registration and connection via Zoom.
Content and Panels:
Panel 1: Introductory Notions:
What is Legal Finance? Who are the third-party funders? How does the funding work?
These are the questions that have caused one of the biggest stirs in the last decade within the arbitration community and academia, due to its novelty and its progressive consolidating as a new actor within the arbitration practice. The funds provide the possibility for claimants (or even defendants), often lacking the resources to pay for international arbitration due to the actions of the other party, to have access to justice.
- Rodrigo Zamora, Galicia Abogados (Mexico) (Moderator)
- Fernando Tallón, Ramón y Cajal (Spain)
- Antonio Bravo Taberné, Eversheds Sutherland (Spain)
- Fernando Bedoya, Pérez Llorca (Spain)
Panel 2: International Arbitration Regulation (panel in English – Spanish):
Is there a need for a specific regulation on third party funders in international arbitration? What is the purpose of such regulation? What are the dangers of over-regulation? Consensus on the disclosure of the existence of funding and the identity of the third party funder, the entry into force of the new ICC rules, the 2019 Code of Best Practices of the Spanish Arbitration Club, the draft revisions of the ICSID and UNCITRAL arbitration rules.
- Jacquelyn Palmer, Bloomberg Law (United States of America) (Moderator)
- Will Marra, Validity Finance (United States of America)
- Rebecca Barrebi, Avenue 33 (United States of America)
- Charles Demoulin, Deminor (Belgium)
Panel 3: Arbitration, Financing & Market – Benefits of Funding:
Third party funding does not only have an impact on the arbitral community. It emerged from the Market as a new proposal to promote access to arbitral justice to new actors, such as companies, which thanks to this tool could protect their cash flow, transferring their litigation costs. Also for small and medium-sized companies, which were prevented from accessing arbitration due to its high costs. In the world of legal finance, we are hearing more and more about the reality that states or their entities can also benefit from it in their own claims, including in defense of the interests of their citizens.
- Antonio Vázquez-Guillén, Allen & Overy (Spain) (moderator)
- Enrique Ferrando Gamarra, Osterling (Peru) (moderator)
- Sandra González, Ferrere (Uruguay)
- Daniel Rodríguez, CMS (Colombia)
Panel 4: Financing and enforcement of awards
The award arrives, but the losing party does not pay, what can we do? It is increasingly common for winning parties in international commercial and investment arbitration to find themselves in default of payment of the award. The figure of the third party funder also brings benefits at this stage by offering both the possibility of financing enforcement and collection processes, as well as the purchase and sale of awards. A look at Venezuela.
- Carolina Bayo, Stonward (Spain) (moderator).
- Hernando Díaz-Candia, WDA Legal (United States of America)
- Thomas Noorgard, Gramercy Funds Management (United States of America)
- Francisco Rodríguez, Economist (United States of America)