Thomson Reuters publishes book by JGLS faculty member
Professor Prakhar Narain Singh Chauhan, Associate Professor, Jindal Global Law School (JGLS), has written a book entitled ‘Third Party Funding in International Arbitration’, published by Thomson Reuters.
The book acknowledges the need for Third Party Funding (TPF) as a possible remedy for increasing dispute resolution costs across the globe and how TPF has a business model has impacted dispute resolution across the globe. However, it has been observed that remedial steps to address this have been undertaken by the select few, be it under municipal legislations or institutional rules. An attempt has been made to understand and reconcile the existing models of third party funding and trace them back to the pristine model/structure of funding which can be accepted worldwide for the purposes of establishing a regulatory framework. Ethical challenges to the existing models have also been looked into and a remedy by way of improving the standards and threshold of disclosures from the perspective of the parties and the arbitrators has been suggested.