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