Security For Costs Granted By English Court In Investment Treaty Award Challenge Involving Third-Party Funding

Security for costs granted by English Court in investment treaty award challenge in which claimants are receiving third-party funding

Herbert Smith Freehills review the English High Court’s decision in Progas Energy Limited and ors v Pakistan [2018], where the Court granted Pakistan’s request for security for their costs in defending a challenge to an investment treaty award. The Court declined Pakistan’s application for security for its unpaid costs in the arbitration awarded to them by the tribunal. The authors note that the case is of particular interest because the Court considered the relevance to the applications of the fact that the Claimants were funded by a third-party funder.

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About Phillip Rompotis

Phillip practices as a barrister and arbitrator in Hong Kong. He has over 25 years’ litigation and arbitration experience in commercial disputes relating to construction & engineering, financial services, joint venture & shareholders agreements, technology, trusts, property and landlord & tenant. He is a Fellow of the Chartered Institute of Arbitrators, the Singapore Institute of Arbitrators, the Malaysian Institute of Arbitrators, and a member of various lists/panels of arbitrators.

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