Erin Miller Rankin, Head of Construction – Middle
East and Asia at Freshfields Bruckhaus Deringer talks to Yasmin
Mohammad, Senior Counsel at Vannin Capital about the landmark
decision in Essar Oilfields Services Ltd v Norscot Rig Management
Pvt Ltd awarding the costs of funding to a claimant.
Yasmin Mohammad (YM): First and foremost, what
is your gut reaction to this landmark decision awarding the costs
of funding to a claimant?
Erin Miller Rankin (EMR): While this is clearly
a positive step for third party funding (TPF), I think the outcome
of this case should be viewed with cautious optimism, largely due
to the fact-intensive analysis supporting the conclusion that the
recovery of costs under the Arbitration Act "can" include
the costs of obtaining litigation funding. As Judge Waksman QC
noted in his decision, "all that this conclusion entails is
that ... litigation funding costs fall within the arbitrator's
general costs discretion." Accordingly, while TPF
