Landmark decision on third-party funding of arbitrations
Essar Oilfields Services Ltd v Norscot Rig Management PVT Ltd  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.
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