Posts Tagged : ICC

Litigation finance eyes Latin America

Madrid-Lima, June 2021. The conclusions of the I International Congress on Third Party Funding in International Arbitration, organized by the Peruvian Institute of Arbitration and Stonward Litigation Funding leave no doubt: Latin America is a clear point of interest for litigation funders due to its unequivocal prominence in the resolution of disputes through arbitration. According to ICC, disputes in Latin America and the Caribbean increased by 14% in 2019 over the previous year.”Arbitration with a Latin American element has a unique importance,” said Carolina Bayo, Senior Director of Stonward, at the opening of the Congress. For two days, June 29…

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…