Litigation Letter

Landmark decision on third-party funding of arbitrations

Essar Oilfields Services Ltd v Norscot Rig Management PVT Ltd [2016] EWHC 2361 (Comm), 15 September 2016

This is a landmark decision from the Commercial Court recognising third-party funding of arbitrations. The background to this decision was an International Chamber of Commerce (ICC) arbitration in which Norscot was awarded the cost of its third-party funding, after Essar was found liable to Norscot for damages for repudiatory breach. Essar sought to set aside the arbitrator’s award as to the third-party funding costs.

The rest of this document is only available to i-law.com online subscribers.

If you are already a subscriber, click Log In button.

Copyright © 2024 Maritime Insights & Intelligence Limited. Maritime Insights & Intelligence Limited is registered in England and Wales with company number 13831625 and address 5th Floor, 10 St Bride Street, London, EC4A 4AD, United Kingdom. Lloyd's List Intelligence is a trading name of Maritime Insights & Intelligence Limited.

Lloyd's is the registered trademark of the Society Incorporated by the Lloyd's Act 1871 by the name of Lloyd's.