ICSID / Interim Relief / Security For Costs / Third Party Funding

ICSID Tribunal Rules Not Necessary Or Urgent To Grant Security For Costs From Third Party Funded Claimant

- by Phillip Rompotis
ICSID tribunal rules that it is neither necessary nor urgent to grant security for costs from a claimant with the benefit of third-party funding

Herbert Smith Freehills reviews an ICSID tribunal’s rejection of a State’s application for security for costs in circumstances in which the other party had third-party funding in the form of ATE insurance which specifically provided for cover of the State’s costs.

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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 Hong Kong 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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