CWR > Volume 9(1); 2023 > Review Article
Research Article
Published online: March 1, 2023
DOI: http://dx.doi.org/10.14330/cwr.2023.9.1.09
Third Party Funding for Dispute Resolution
Siyuan Jin & Wei Shen
Shanghai Jiao Tong University
No. 1954 Huashan Road, Shanghai Jiao Tong University Law School, Shanghai 200030 PRC.
Corresponding Author: jinsiyuanay@foxmail.com
ⓒ Copyright YIJUN Institute of International Law. This is an Open Access article distributed under the terms of the Creative Commons Attribution Non-Commercial License (http://creativecommons.org/licenses/by-nc/3.0/) which permits unrestricted non-commercial use, distribution, and reproduction in any medium, provided the original work is properly cited.
Abstract
In recent years, the use of third-party funds (TPF) in mainland China and beyond has grown significantly. Under the third-party funding model, the risks and costs of litigation or arbitration are transferred to parties outside the case. The parties with economic difficulties have a better chance of obtaining legal justice. However, the financial motives of third-party funders are not always in the interest of the parties or the courts’ need to review the cases efficiently and impartially. Therefore, appropriate regulatory measures against the potential risks of TPF are necessary. By comparing recent developments and historical backgrounds in the field of TPF in different countries, this book reveals differences in regulatory approaches to TPF in selected jurisdictions. In combination with China’s legal tradition, social conditions and empirical research, the author also offers suggestions on how to solve legal issues related to TPF in China. Against the background that the development of TPF in China is still in its infancy and China’s Arbitration Law is being revised, this book not only helps Chinese legislators formulate regulations on TPF, but also provides a great guiding tool for litigation and arbitration parties
Keywords : Third-Party Funding, Litigation, Arbitration, Mainland China, Regulatory Measures, “Light Touch”
