English High Court OKs Recovery Of 3rd-Party Funding Costs

Law360, New York (October 3, 2016, 6:39 PM EDT) -- An English High Court judge has allowed an oil and gas firm to recover its third-party funding costs for an underlying arbitration, finding in a first-of-its-kind decision released Friday that the arbitrator who issued the award had not exceeded his authority.

Affirming a fifth partial award issued by arbitrator Philip Otton, Judge David Waksman said in a Sept. 15 decision that he didn’t see how the arbitrator's decision ordering Essar Oilfield Services Ltd. to reimburse Norscot Rig Management Pvt. Ltd. for the fees owed to its...
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