Navigating the Third-Party Funding Conundrum: A Regulatory Blueprint – Part 1
Third-Party Funding (TPF) refers to the practice where an external financier covers the legal expenses of a disputant in arbitration without being directly involved in the dispute. This financial assistance might include covering the legal fees or settling any awards or judgments against the funded party.
Navigating the Third-Party Funding Conundrum: A Regulatory Blueprint – Part 2
The emergence of TPF in a developing jurisdiction like India has led to the twin faceted challenge of ensuring regulation while still promoting the access to arbitration.
Pre-Arbitral Procedures: To be Mandatory or Not?
Multi-tiered dispute resolution clauses (“MDR”) require parties to fulfill mandatory pre-adjudicatory requirements before the commencement of arbitral proceedings. So far, Indian courts have generally upheld a pro-arbitration stance, treating such pre-arbitral steps to be directory rather than mandatory.