Although largely unregulated, third-party funding in international arbitration is recognised and supported in many jurisdictions. It has however, been legalised in Singapore and Hong Kong and the bill which implicitly legalizes third party funding in Nigerian arbitration, has been passed by the Nigerian Senate and awaits Presidential assent. This has seen a rise in the ability of parties to take up third party funding.

Our international panel provided perspectives from both sides of the debate. AELEX Partner Ngozi Efobi and ENSafrica Mauritius Managing Partner Thierry Koenig, joined by third party funders John Liegey of Weston International Capital Limited and Giacomo Lorenzo, Legal counsel at Deminor.

The webinar gave an overview of the recent reforms in Nigeria and the obstacles to third party funding previously presented by the common law doctrines of champerty and maintenance. Our panellists also explored the benefits of third-party funding and consider its ethical issues. Our third-party funders offered insights into the impact of regulation upon the growth of the funding industry and the advantages and disadvantages of mandatory disclosure requirements.