Now that corporate lawyers are aware of this mechanism [third-party funding, TPF – Ed.], they are increasingly bringing in clients with a real potential for disputes, but there is no way to fund lengthy processes and expensive lawyers. They really are asking for it. [...] The demand for funding is growing — Irina Tsvetkova, Founder, PLATFORMA.
We’ve recently been seeing requests from large Russian companies that don’t want to bear the risks of financing the process themselves and would rather share the risks with a financing organisation, so large companies also want to raise funding like this. […] In our practice, at least the investors are willing to finance a project if the profit is somewhere around 3 or 4 times higher than the money invested — Dmitry Kaysin, Partner, Rybalkin, Gortsunyan, Dyakin & Partners.
It seems to me that the prospects for third-party funding in international arbitration are excellent. [...] It’s a useful thing, but obviously there are risks everywhere, especially when new, so to speak, legal products are being introduced. The things that have been said here today make one think that arbitration is, after all, an art form, and as we know, real art cannot develop without funding — Mikhail Savransky, Deputy Chairman, Arbitration Center at the Russian Union of Industrialists and Entrepreneurs (RSPP).
The Hong Kong International Arbitration Centre is actively gaining experience, and there are more and more FTL cases. It was only two and a half years ago that FTL was fully allowed, and we feel that the institution is developing at a brisk pace. […] The industry holds a lot of promise for all of us — Eric Ng, Deputy Secretary-General, Hong Kong International Arbitration Centre (HKIAC).