The VIII Edition of the Arbitration Open organized by the European Arbitration Association (EAA) was held from 4 to 5 of May in Madrid.
The event was attended by 900 law professionals from 33 countries. PLA participated as sponsor and organizer of the round table “Third-party funding and costs in international arbitration“.
Participants in PLA round table “Thrird-party funding and costs in international arbitration” at the past Arbitration Open
The round table was moderated by our CEO, Jesús Rodrigo, and participated by:
- Ignacio Madalena, Counsel of the international arbitration area of White & Case.
- Rafael Monsalve, Partner of the Litigation and Arbitration area of Cuatrecasas.
- Eduardo Villellas, Partner of the Litigation, Mediation and Arbitration area of Deloitte.
- Fernando Gragera, Vice President of PLA.
Main topics discussed during this round table in the Arbitration Open
The first topic was the regulation of costs in litigation investment contracts, the ATE (After the Event) -insurance to cover the risk of adverse costs- and the funding of the premium payments.
On the other hand, Fernando Gragera shared his view on the possibility for the winning party to recover the amount paid to the funder as costs, as well as the possible annulment of arbitral awards for this reason.
The speakers also discussed the possibility of requesting security for costs in arbitrations seated in Spain and the impact of the existence of a funder on the decision of the arbitral tribunal.
Finally, the question of ordering security for costs against the funder or ordering the funder to pay the costs of the arbitration arose. The round table compared the different precedents in court litigation with those of international arbitration.
