The Russian Institute of Modern Arbitration (RIMA) is pleased to announce that the research on Third-Party Funding (TPF) in Russia is being conducted by a group of prominent Russian and international practitioners.
The arbitration landscape in Russia has undergone major transformations over the course of the last five years. TPF is however still underrepresented in the litigation/arbitration market in Russia. Despite the lack of legislative regulation and the inconsistency of case law, there is a specific interest in TPF in Russia among the business representatives, existing funding platforms and lawyers themselves.
In order to carry out a thorough analysis in relation to the introduction of the TPF system, and to identify the possible problems with its use in arbitrations related to Russia and their solutions, the RIMA launched an initiative on the TPF research in Russia-related arbitrations.
The research is led by Ania Farren (Partner at Omnia Strategy LLP, member of the ICCA-Queen Mary Task Force on Third-Party Funding in International Arbitration), who has brought experienced Russian and international legal practitioners together in a Task Force, including:
The Task Force will address issues including (i) the relevant legal framework in Russia relating to arbitration and TPF, (ii) the use of TPF in Russia-related disputes, and (iii) advantages and disadvantages of TPF. The final report of the Task Force will include recommendations on best practices related to TPF.