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Stonward, ranked in Chambers & Partners: Litigation Funding (Europe)

It’s an honor to announce that Stonward Litigation Funding has been ranked in the Chambers & Partners directoy, in the Litigation Support Guide rankings! Stonward has achieved two rankings, the Europe-wide Litigation Funding Brokers ranking and the Europe-wide Litigation Funding ranking (Spotlight mention). According to the directory, Stonward is a sophisticated broker serving law firms, companies and individuals to match with the most suitable legal finance provider. The firm’s sophisticated financial markets understanding and deep legal technical expertise combine to offer a bespoke service to clients. Stonward is characterized by our smart people and our understanding of the legal and…

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…

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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”,…

Litigation Finance: Legal Framework in Spain (I)

Spain is an attractive market for litigation funders, and proof of this is the growth in competition of the last five years. In fact, an increasing number of funds seek to increase their presence in Spain through satellite offices. Notwithstanding the foregoing, the market is at a point of saturation, fact that does not come as a surprise. Spain is a very advantageous country for litigation funding because it offers a friendly regulatory framework. Spain is not restricted by the medieval figures of maintenance and champerty, typical figures of common law jurisdictions, and offers a lot of flexibility. Furthermore, art.…