Justin Williams Quoted in Law360 on Top International Arbitration Cases
Akin Gump litigation partner Justin Williams has been quoted in the Law360 story “The Top International Arbitration Decisions Since Midyear,” which looks at some of the most contentious arbitration issues that came up in the past six months.
Williams spoke about the case Essar Oilfield Services Ltd. v. Norscot Rig Management Pvt. Ltd., in which an English High Court judge ruled that a party could recover its third-party funding costs for an underlying arbitration. The article notes that it paved the way to making third-party funding of an arbitration an even more attractive option.
Williams said the decision was an important one, “because the prospect that litigation funding costs are recoverable really significantly improves the economics of bringing a claim as a claimant if you have the benefit of litigation funding, and equally of course as a respondent [it] makes the prospect of that more concerning. It effectively increases your exposure.”
He continued, “In the context of what is a growing, emerging litigation funding environment in international arbitration, [it’s] a very important decision in England and it’s being watched in other jurisdictions around the world.”