Third-Party Funding in International Arbitration: Useful Experience from Australia

Abstract

Australia is renowned as a leading jurisdiction for litigation funding, underpinned by an expanding market and generally supportive legislature and judiciary. Less clear is the Australian approach to third-party funding in international arbitration. In an exploration of the Australian litigation funding landscape, this article seeks to understand whether any lessons can be gleaned in addressing the growing role of third-party funding in international arbitration.Through a consideration of the discrete issues of disclosure, confidentiality, costs orders, and security for costs, it is clear that both the Australian and international responses to litigation funding offer valuable guidance on issues surrounding third-party funding in international dispute resolution.