Third Party Funding in Disputes: Viable Option in India?

Tuesday, September 11, 2018

SESSION: 03:00 PM - 04:00 PM (IST)

INTRODUCTION

Third party funding of disputes is now a common phenomenon across developed jurisdictions and has transitioned into a specialized industry. Whilst, there has been a significant growth in international jurisprudence and legislation on third party funding, position in India is not so well explored. However, there is an increasing recognition of this subject, as is evident from the recent ruling of the Supreme Court of India in Bar Council of India v AK Balaji & Ors. Third party funding offers many advantages for the dispute resolution process and, in general, encourages an early resolution of the dispute. Funding is important for not only the clients who cannot pay but also clients who will not pay due to budgetary constraints. In view of the rise in legal costs in the dispute resolution process, the question is can third party funding be adopted in India, especially where there is a genuine and legitimate case. The webinar examines the legal position on third party funding in India, the UK position, the global best practices, the possibility of an early settlement in cases which have been funded and the steps to secure a third-party funding.

Focus Area

  • What is third party funding & how has it evolved in the UK?
  • What is the law in India on third party funding?
  • What is the process of arranging for third party funding, what does it cover, what are the timelines involved and what is the approval process?
  • What are the challenges for development of third party funding in India?
  • Should third party funding be regulated and is there a need to develop legislation pertaining to third party funding?

Flow of the session

03:00 PM – 03:45 PM (IST) :

PANEL DISCUSSION

03:45 PM – 04:00 PM (IST) :

Q & A

Speakers

MARK BUCKLEY

Partner

Fladgate, London

Mark is a partner in the litigation department at Fladgate. He specialises in international commercial litigation and arbitration and in sports disputes.

Mark is often referred work by leading overseas law firms, in particular from India as other jurisdictions. As well as many years’ experience in acting for Indian clients in litigation and arbitration disputes, Mark is also experienced in obtaining third party funding for such disputes and is familiar with the pitfalls that can be faced. He has spent the last year working with leading funders, insurers and brokers focusing on how best to unlock the potential for third party funding in India.

Mark is ranked as a leading expert by the independent guides to the legal profession in sports law and in contentious bond disputes. He qualified in 1985 and joined Fladgate in 1988, becoming a partner in 1991.

TOM GLASGOW

Investment Manager

IMF Bentham

As Investment Manager (Asia), Tom Glasgow leads IMF Bentham's Singapore office. He is responsible for assessing and managing funded cases throughout Asia, including arbitration, litigation and insolvency claims in Singapore and Hong Kong.

Prior to joining IMF Bentham, Tom was a senior member of Allen & Overy's international arbitration and disputes practice in Asia, where he handled complex multi-jurisdictional commercial matters for leading global businesses across a range of sectors, including financial services, automotive, energy production, industrial manufacturing and construction. Tom has managed international arbitrations under most leading sets of institutional rules, seated in Hong Kong, Singapore, Tokyo, Manila and London, as well as related court applications across various jurisdictions in Asia and elsewhere.

Before moving to Asia, Tom worked with the leading New Zealand firm, Russell McVeagh, where he represented local and multi-national clients in high-end commercial matters before the High Court, Court of Appeal and Supreme Court of New Zealand as well as in administrative, contentious regulatory and insolvency proceedings.

Tom holds dual degrees in law and international relations, and is a qualified lawyer in both New Zealand and Hong Kong. He has a strong interest in international disputes, litigation finance and the development of legal services. He frequently speaks and publishes on these topics.

ASHISH KABRA

Leader, International Litigation & Dispute Resolution Practice

Nishith Desai Associates

Ashish is a senior member of the International Litigation & Dispute Resolution team. He focusses on cross border commercial disputes and has successfully represented clients across various forums including domestic and foreign arbitrations (SIAC, LCIA & UNCITRAL), High Court, Supreme Court of India, Company Law Tribunal etc. He specializes in advising investors and joint venture partners in contentious situations and is particularly adept in managing shareholders disputes.

ALIPAK BANERJEE

Leader, International Litigation & Dispute Resolution Practice

Nishith Desai Associates

Alipak is a senior member of the International Litigation & Dispute Resolution team. He represents clients in a wide range of services, with a special focus on cross-border and complex litigation and international commercial arbitration. He has experience of representing clients in institutional and ad hoc arbitrations and litigation proceedings in various jurisdictions, including India, Singapore, Hong Kong and London. He has advised and represented clients engaged in media, entertainment, oil and gas, energy, manufacturing, funds and financial services sectors.