- Third party funding costs awarded (Essar Oilfields Services v Norscot Rig Management Pvt)
- Original news
- What was the background to the arbitration award?
- What did the arbitrator decide in relation to costs and, in particular, in relation to the third party funding element?
- On what basis was the award challenged in the Commercial Court?
- What did the court decide?
- What are the practical implications of the decision?
Arbitration analysis: Arbitration and commercial specialist Chirag Karia QC of Quadrant Chambers, who acted for Norscot alongside costs specialist Nicholas Bacon QC of 4 New Square, discusses the landmark judgment of Essar Oilfields Services Ltd v Norscot Rig Management Pvt Ltd and what impact the decision will have on arbitration proceedings and third party funding in the future.
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