December Edition 2019

21 party seeking funding are willing to share some of the risk by deferring a portion of their fees, the likely length of proceedings and the prospects of an early settlement. Conclusion Third-party funding is a valuable option that parties involved in arbitration should explore. It allows claimants an avenue to justice who may otherwise not be able to bring their claim because of financial constraints. It also has significant strategic benefits and is a valuable option for companies who have meritorious claims but want to share the costs risk involved with pursuing those claims and free up resources to be used elsewhere. When considering whether third-party funding is appropriate in international arbitration, practitioners should consider any jurisdictional constraints of using funding as well as issues of privilege, disclosure of conflicts and security for costs that may arise, and advise their clients accordingly. Practitioners and claimants alike should also consider the reputation of the funder they intend to transact with, and be careful to choose a funder with a proven track-record that has the ability to meets its obligations under the terms of any funding agreement. About Woodsford Woodsford is one of the world’s leading providers of finance to law firms and their clients. Founded in 2010, with a presence in London, Philadelphia, New York, San Francisco, Brisbane, Singapore, and Tel Aviv, Woodsford provides financing solutions for law firms, businesses and individuals around the world. Woodsford’s highly-experienced, international team deliver a unique combination of extensive business and legal expertise, which allows for quick understanding of the financial implications and legal merits of a case or portfolio of cases. By using our own internal legal capability and funds from our own balance sheet rather than relying on external advice or capital, the entire financing process is accelerated. The author is a Director of Litigation Finance, Israel, at Woodsford Litigation Funding: ynavon@woodsfordlf.com www.woodsfordlitigationfunding.com