Third Party Financing of International Commercial Arbitration

This work is devoted to the study of public relations arising in connection with the use of the institution of Third-party financing (hereinafter – «TPF») in International Commercial Arbitration (hereinafter – «ICA»). The purpose of the research is to do a comprehensive study of the legal nature, problems and individual features of the legal regulation of the TPF institute in the ICA. In the framework of this research, the hypothesis is put forward that for the spread and further application of the TPF in the ICA, it is necessary to answer a number of conceptually and fundamentally important questions. If, after determining the most appropriate approaches, the possibility of this option of financing arbitration processes remains, we can talk about the future of TPF in the ICA. In view of the purpose of the study, this work consists of 3 large parts. The first chapter is devoted to the definition of the concept and legal nature of TPF, which includes a description of the prerequisites for the development of the TPF institute and the definition of approaches to the definition and content of TPF. The second chapter is devoted to the legal significance of TPF. Within the framework of this chapter, the main legal structures of the agreement on the financing of arbitration by third parties and related contractual models are described. This part concludes with a description of the advantages and disadvantages of TPF. Thus, the first two chapters will provide a theoretical basis for further research. The third part of the study contains a more detailed analysis of some of the main problems of TPF in the ICA: disclosure of information about the TPF and the funder, conflict of interest, recovery of arbitration costs.