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Funders Take Aim at UN Treaty Arbitration Reform Efforts

The United Nations Commission on International Trade Law recently proposed provisions to limit or eliminate third-party litigation funding in investor-state arbitration claims, according to an article by Law360

The provisions aim to address concerns that third-party funding increases the overall number of cases, frivolous claims, and cases in which respondent nations have been unable to recover costs. As a result, the litigation finance industry is pushing back against efforts by the United Nations working group. Specifically, the International Legal Finance Association wrote a letter to the United Nations Commission on International Trade Law arguing that its Working Group III failed to meaningfully engage with the funding market.

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