Third party funding in international arbitration : legal problems and global trends with a focus on disclosure requirement

This article deals with the problem of third party funding in international commercial and investment arbitration. It analyses the basic concept of third party funding, identifies the main areas of challenge as well as presents recent changes and innovations associated with this concept. The article concentrates on transparency and disclosure requirements, which is, according to us, the major issue that influences further development and use of funding arrangements. The conducted analysis and case study drive us to the conclusion that third party funding is "here to stay" in international arbitration and will progress to the benefit of the arbitral community, but up-on a condition of regulated, imposed and observed principle of disclosure.