Cards On The Table? Thoughts On Disclosure Of Third Party Funding

As more jurisdictions permit third party funding of international arbitration, the question of whether details of the funding must be disclosed arises ever more frequently.

Concerns to date focus on conflicts (ensuring that the identity of the funder poses no challenge to the independence and impartiality of the tribunal) and the ability of a respondent to apply for security for costs. The Tribunal in the case of Muhammet Çap v. Turkmenistan¹, was motivated by these concerns when requiring the Claimant to disclose whether it was being funded by a third party funder, and if so, the funder's identity and nature of the funding arrangements, including to what extent the funder would share in a favourable award to the Claimant.